BNB Price Prediction: Binance Coin (BNB) Faces $1.5 Million Worth of Liquidation

In the last 24 hours, the price of BNB has been under a strong bearish pressure as it failed to hold momentum above $640.

The price of BNB has come under strong bearish control in the last 24 hours as it failed to hold momentum above the $640 mark. However, buyers are now aiming for an upward correction as BNB price heads toward support channels.

Additionally, BNB’s trading volume has dropped by 14.12% in the past 24 hours, reaching $2 billion.

On a broader note, BNB has faced increasing downward volatility since the crash on February 3. But now, BNB is recovering with a bullish rally. Its market cap has dropped by 2.5% to $87.95 billion in the last 24 hours.

At the same time, the cryptocurrency behemoth is now dealing with a new wave of emerging market optimism as the bulls attempt to push higher.

BNB Faces $1.56 Million Worth of Liquidation

The price of BNB has been struggling to move higher as it faces strong bearish control below the $640 level. This pressure has pushed the price toward lower levels of key Fibonacci support, and sellers are now actively blocking any attempts to rise past the current resistance.

According to recent liquidation data from Coinglass, there has been significant market activity, with about $1.56 million in positions being liquidated in the last 24 hours. This includes $1.35 million from long positions and around $209.3K from short positions.

Furthermore, the total open interest in BNB—reflecting all active trading contracts—has decreased by 10.6%, falling to $799.9 million. This decline indicates waning trader engagement. The negative funding rate for BNB, currently at -0.0082%, also signals a cautious or bearish market sentiment.

A notable shift in the long to short position ratio to 0.5523, with 65% of traders anticipating a further decline in BNB’s price, further underscores the bearish outlook. This sentiment could drive the price closer to the $600 mark.

Binance Coin (BNB) is currently seeing a reduction in buying interest, which has pushed its price toward the $610 support level. This decline started after BNB struggled to maintain above the $640 resistance line.

Currently, BNB is priced at $616, reflecting a 2.5% decrease within the past 24 hours. The technical charts show the BNB/USDT pair trading below the EMA20 trend line, suggesting the possibility of revisiting the $610 support soon.

The Relative Strength Index (RSI) is at 51, positioning BNB within a potentially attractive buying zone. This could encourage sustained buying activity, possibly driving the price over the $640 resistance and potentially reaching as high as $676.

However, if selling pressure increases, BNB might retreat to the critical $610 support level. A breach below this point could lead to a more substantial drop to $563, marking a significant shift from the current bullish trend.

Binance Coin 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 Binance Coin price prediction, the price of Binance Coin is expected to surge by 89.44%, reaching $1,171.97 by April 18, 2025. The technical indicators from Coincodex present a bearish current sentiment, while the Fear & Greed Index is at 32, indicating fear. Over the last 30 days, Binance Coin has achieved 14 green days, which is about 47% of the time, with a price volatility of 5.51%. Given the current market conditions and forecast, it is advised that now is not an optimal time to buy Binance Coin.

What is the BNB price today?

BNB price is trading at $616 at the time of writing. The BNB price has dropped by over 2.5% in the last 24 hours.

What is the BNB price prediction for March 19?

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 long-term forecasts, the BNB price might reach $1,171.97 by April 18. This makes BNB price a good investment considering its monthly yield.

Investment Risks for BNB

Investing in BNB prices can be risky due to market volatility. Investors