by Rubab Fatima
BNB maintains its market leadership position through a 5% value increase that challenges former high points in a 24-hour span. Market analysts predict BNB’s future growth after its strong current price movement.
BNB took its place among leading performing digital currencies and ranked among the top 100 on Monday. The token returns to its important resistance level during its attempt to reverse its downward trend that lasted for months.
BNB Rebounds After Testing $510 Level
The BNB price dropped back toward $693 from its $793 maximum mark across December 2024 and then failed to hold this $700 support level through Q1 market swings. From February to the present BNB has held prices between $500 and $700 before dropping to its lowest level in six months during February.
The market shifted last Monday when BNB reached its lowest zone during the specified range and hit $510 before picking up momentum. The token regained 18 percent during the last week after touching its lowest point and achieved its highest monthly mark since then. During the weekend BNB tried once again to reach $600 but failed to keep the mark from Sunday into Monday. The digital currency rose 7.7% to $643 at Monday morning but lost ground afterward.
In his analysis Crypto analyst Carl Runefelt observed BNB moving past its $600-$620 hold area because this achievement established an opportunity to challenge its descending resistance line at $650 from three months ago. Runefelt expects BNB to exit its downward trend once it permanently holds the rebound area of $600-$620.
$BNB is coming back strong!
Once it gains some foothold above this horizontal resistance, #BNB has all the chances to break the descending resistance as well.
Thoughts?👇 pic.twitter.com/W1oGIYwFpO
— Carl Moon (@TheMoonCarl) March 17, 2025
Market analyst AMCryptoAlex noticed that BNB’s new price movement indicates a successful exit from an Inverse Head and Shoulders trend. Alex says BNB will continue its upward trend because it stays above $620 resistance multiple times and shows rising price bars on the chart.
$BNB is one of the best blue-chip charts looking out there.
Breakout from inverse head and shoulder pattern and now consistent green candles above crucial resistance level.
With BNB Chain gaining momentum, I think BNB is primed for more upside. pic.twitter.com/L8DJdGuG4V
— AMCrypto (@AMCryptoAlex) March 17, 2025
BNB Chain Surpasses Solana in DEX Volume
The chart shows potential bullish momentum through its double-bottom formation while market strengths keep getting better according to Ted Pillows. Pillows indicated that BNB Chain achieved higher decentralized exchange (DEX) trading volume in one day than Solana resulting in an increased chance to approach $640. According to his analysis the token will quickly reach a brand-new highest point.
$BNB chart is looking really good here.
Double-bottom pattern along with fundamentals getting better.
Recently, BNB Chain flipped Solana in 24-hr DEX volume and today Binance wallet announced 0% trading fees till September.
Right now, I'm waiting for a reclaim of $640 level… pic.twitter.com/EyujyYLHkl
— Ted (@TedPillows) March 17, 2025
DeFiLlama figures prove our analysis correct when BNB Chain surpassed Solana’s DEX trading volume achieving $1.64 billion on Sunday compared to Solana’s $1.07 billion on March 16th. During the past week DEX trading volume on BNB Chain went up by 13.27% making it rank third in network performance.
BNB increased in value because of a widespread interest in memecoin projects on its platform. MUBARAK tokens generated $300 million trading volume within one day at the same time they increased 99% in value during that period.
Investors now express pessimism and negative market sentiment toward the Solana network. The U.S. President and First Lady memecoins plus TRUMP and MELANIA on Solana’s network along with Argentina’s failed LIBRA token negatively affect the platform’s market prospects.
BNB trades for $627 as of now showing a 4.18% boost during the last 24 hours. Analysts monitor key resistance zones while market players watch if BNB can keep its momentum to reach a new all-time high.
#blockchain #crypto, #decentralized, #distributed, #ledger
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