Binance Coin (BNB) Price Prediction: Targeting $676 as Bears Consolidate Below $640

In the last 24 hours, the price of BNB has been facing strong bearish domination as it struggles to move above $640.

In the last 24 hours, the price of BNB has been facing strong bearish domination as it struggles to move above $640. As a result, sellers are now consolidating the price within a bearish region. Additionally, BNB’s trading volume has surged by 7.1% in the past 24 hours, reaching $2.09 billion.

Looking at the bigger picture, BNB’s price has been facing increasing downward volatility since the crash on February 3. However, BNB is now recovering with a bullish rally. In the last 24 hours, its market cap has dropped by 0.8% to $89.7 billion.

BNB’s Open Interest Faces Sharp Decline

The price of BNB is currently under pressure after struggling to sustain momentum above the critical $640 resistance level. Sellers have seized the opportunity, now aiming to establish firm control by keeping prices below the $630 mark.

According to recent data from Coinglass, market volatility has led to approximately $1.34 million in liquidations over the past 24 hours. Notably, buyers (long positions) suffered significantly higher losses of about $1.13 million, while sellers (short positions) incurred losses around $210,000.

This bearish sentiment is reflected in declining trader enthusiasm. Open interest in BNB contracts—a key measure of active market participation—fell roughly 22.5%, dropping to approximately $839 million. Moreover, the funding rate has dipped into negative territory at -0.0056%, indicating heightened caution and bearish sentiment among traders.

Despite these negative signals, there is an intriguing nuance in trader positioning. The long-to-short ratio stands at 1.1, showing a slight bullish lean, with around 52% of traders still anticipating a potential upward rebound. If bulls regain confidence and buying pressure picks up, BNB could once again challenge the pivotal $640 resistance in the coming hours.

BNB Price Prediction: Technical Analysis

Binance Coin (BNB) remains caught in a tug-of-war near the pivotal $640 resistance, as bearish momentum restricts upward movement. Recent trading activity has seen the coin hover near the $630 mark, briefly dipping as low as $629—a modest decline of approximately 0.2%. Sellers appear eager to drag the price toward the immediate support represented by the 23.6% Fibonacci retracement level.

Yet, despite bearish attempts, several technical signals point toward the potential for recovery. BNB continues to defend the crucial support level at $610, indicating resilience among buyers. Additionally, the Relative Strength Index (RSI) is positioned neutrally around 49, reflecting a balanced battle between bullish and bearish forces and suggesting that buyers could soon gain the upper hand.

If bullish momentum increases, BNB could successfully challenge and surpass the $640 barrier, subsequently setting sights on the next significant target around $676. Conversely, if bearish pressure escalates, driving the price beneath the EMA20 support, BNB might revisit and test the critical support at $610. A sustained break below this level could prompt a deeper correction toward the next substantial support at $563, effectively erasing recent gains.

BNB Price Prediction: What to Expect Next?

Short-term: According to BlockchainReporter, BNB price might aim for a surge toward the $640 resistance level. If the price moves above that level, we might see a trade around $676. On the downside, $610 is the range.

Long-term: According to Coincodex’s current Binance Coin price prediction, the coin’s value is forecasted to increase by 88.78%, potentially reaching $1,194.29 by April 27, 2025.

Coincodex’s technical indicators currently suggest a bearish market sentiment, accompanied by a Fear & Greed Index rating of 44, indicating fear among traders.

Over the past 30 days, Binance Coin experienced 14 out of 30 (47%) positive trading days, alongside a price volatility rate of 4.17%.

Based on Coincodex’s analysis, the present conditions imply it is not an optimal time to invest in Binance Coin.

How much is the BNB price today?

BNB price is trading at $629 at the time of writing. The BNB price has dropped by over 0.3% in the last 24 hours.

What is the BNB price prediction for March 28?

Throughout the day, BNB price might aim for a surge toward the $640 resistance level. If the price moves above that level, we might see a trade around $676. On the downside, $610 is the range.

Is BNB a Good Buy Now?

According to