BNB Encounters $660 Resistance as a Bearish Short-Term Pattern Emerges

Binance Coin (BNB) is holding firm above $650 amid increased volatility caused by mounting global trade tensions.

The cryptocurrency briefly touched $664 before retracting, but strong trading volumes indicate a solid support level near $650, according to CoinDesk Research’s technical analysis.

The broader crypto market has been shaken by new tariffs announced by President Trump, triggering uncertainty that has affected major assets like BNB.

Despite this, BNB has demonstrated resilience, driven largely by rapid expansion within the BNB Smart Chain ecosystem.

Daily transactions on the BNB Smart Chain have reached 14 million, while decentralized exchange (DEX) trading volumes have surged 50% over the past month.

In the past 30 days, DEXs built on the BNB Chain have processed over $150 billion in volume, outperforming competitors such as Ethereum and Solana.

This surge in on-chain activity reflects a growing user base and strengthens BNB’s underlying fundamentals, even as macroeconomic pressures persist.

For traders navigating the current volatile landscape, BNB’s relative strength stands out, supported by both market momentum and robust ecosystem engagement.

Technical Analysis Summary

BNB maintained strong momentum over the weekend but is now showing signs of short-term weakness after failing to break the $664 resistance.

The uptrend began around 2 PM on June 1, when BNB rose above $650 on higher-than-average volume of 45,756 units. The rally pushed prices into the $662–$664 range by 1 AM on June 2 but stalled due to heavy selling.

Following this, BNB entered a narrow consolidation between $658.05 and $659.60, with a brief spike to the upper limit around 7:17 AM before pulling back.

Volume peaked twice—at 7:18 AM and 7:51 AM—reflecting active but indecisive market trading.

Since then, BNB’s price has formed a descending channel with lower highs, indicating short-term bearish pressure.

Nevertheless, the $658.00 to $658.20 area has served as a key support zone, absorbing selling pressure and potentially paving the way for the next move.

While BNB’s long-term outlook remains closely tied to its ecosystem’s growth, traders are closely watching the descending channel. A breakout above recent highs could negate the bearish pattern, while a drop below support may confirm it.