BNB Price Prediction: Binance Coin (BNB) Price Surges Toward $640 Resistance

In the last 24 hours, the price of BNB has been under a strong buying pressure as it surged toward $640. Buyers are currently aiming for a breakout as BNB price

The price of BNB has been strong in the last 24 hours as it continues to be bought up. After a crash on February 3, BNB has faced increasing downward volatility.

Its price has dropped by 0.41% in the last 24 hours, reaching $90.6 billion.

What happened to the BNB price yesterday?

The price of BNB has been facing selling pressure as it's seen a drop of 1.3% in the past 24 hours. At the time of writing, the price of BNB stands at $639, and it's still encountering resistance at the $640 level as bears are putting up a strong defense.

According to the latest liquidation data from Coinglass, there has been significant activity with about $818.8K in positions liquidated. This includes $396.5K from long positions and approximately $422.3K from short position liquidations.

Credit : Coinglass

The total open interest in BNB, which showcases all the actively traded contracts, has seen a minor decrease of 1.3%, dropping to $909 million. This indicates a slight reduction in the level of trader engagement.

Furthermore, the funding rate for BNB stands at -0.0149%, which is in the negative territory. A negative funding rate usually signifies a cautious market sentiment.

However, there has been an increase in the long to short position ratio to 1.1, with 53% of traders predicting a rise in BNB’s value. This suggests a strengthening bullish sentiment, which could potentially lead to further price gains above $640.

BNB price technical analysis

Binance Coin (BNB) has been showing signs of strong buying interest as it continues to be valued above critical Fibonacci levels.

Now, buyers are aiming for a breakout of the immediate resistance line, and BNB’s trading volume has surged by 9.14% in the past 24 hours, reaching $2.25 billion.

Relative Strength Index (RSI): The RSI is currently at 66, which indicates that BNB is still in a favorable buying zone.

Key resistance levels: From the technical analysis, the price of BNB is approaching the key resistance level at $640. A breakout above this level could propel the price towards the next resistance zone at $676.

Key support levels: On the other hand, if the selling pressure increases, BNB might pull back to the crucial support level at $610. A breakdown below this mark could lead to a steeper decline towards $563.

What is the BNB price prediction for March 18?

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 the latest Binance Coin price prediction from Coincodex, the price of Binance Coin is expected to rise by 85.57% and reach $1,176.05 by April 17, 2025. Technical indicators from Coincodex indicate that the current market sentiment is Neutral, while the Fear & Greed Index is at 34, signaling Fear.

Over the past 30 days, Binance Coin has had 15 out of 30 green days, with a price volatility of 5.72%. Based on this forecast, it is currently considered a good time to buy Binance Coin.

What is the BNB price today?

The price of BNB is $639 at the time of writing on March 18. It has dropped by more than 0.37% in the last 24 hours.

Where can I buy BNB?

You can buy Binance Coin (BNB) on major cryptocurrency exchanges. Here are a few popular options:

Binance: One of the largest cryptocurrency exchanges worldwide, offering a wide selection of coins and high liquidity.

Coinbase: A leading cryptocurrency exchange in the U.S., known for its user-friendly interface and compliant services.

Kraken: A well-established cryptocurrency exchange with a focus on institutional traders and advanced trading features.

You will need to create an account on the chosen exchange, verify your identity, and fund your account to purchase BNB.