BNB Holds Ground Amid Market Turmoil and Rising Geopolitical Tensions

Binance Coin (BNB) is showing notable resilience despite a volatile week for global markets, as geopolitical tensions surged following Israel’s military action against Iran. The conflict triggered widespread panic, resulting in over $700 million in crypto liquidations within 24 hours, according to CoinGlass. While many altcoins saw sharp pullbacks, BNB held steady, fluctuating within a narrow 1% range.

BNB attempted to break above the $660 resistance level but failed to maintain momentum, now consolidating within a symmetrical triangle pattern. Still, it remains above a critical support zone at $640, which aligns with the 78.6% Fibonacci retracement level. Technical indicators show mixed signals. The Moving Average Convergence Divergence (MACD) has turned negative, and the Relative Strength Index (RSI) is below the neutral 50 mark, pointing to weakening momentum.

However, there are bullish signs. The 50-day and 200-day moving averages are approaching a golden cross, often seen as a precursor to upward price action. The Chaikin Money Flow remains in positive territory, signaling steady capital inflows. Trading volume data highlights seller dominance near $655.5, while buyers are accumulating around $649.

Despite Binance Smart Chain’s surge in perpetual trading volume, BNB hasn’t seen a proportional rise in investor demand. Net Taker Volume dropped to a multi-week low of -$197 million, reflecting reduced aggressive buying interest. Additionally, BNB futures open interest is down over 30% from its December highs, suggesting lingering caution among traders.

As macroeconomic uncertainty and geopolitical risks weigh on investor sentiment, BNB’s stability near key technical levels makes it a coin to watch, particularly if bullish patterns play out in the coming sessions.