BNB saw a modest gain of 2% in the last 24 hours, exceeding $ 627 before resolving the company support at $ 616.55.
The movement occurs when the BNB chain, the block chain linked to BNB, saw its daily transactions almost duplicated to 17.6 million since mid -May, according to Defillama data.
Cryptographic markets have been nervous amid growing geopolitical tensions and changing commercial policies between the main economies.
A factor that helps buoyar the feeling is Maxwell’s next bifurcation, scheduled for June 30. If you succeed, you will reduce blocking times of 1.5 seconds to 0.75 seconds, which can make the network more competitive with high speed chains.
If the impulse continues, BNB can try to claim the level of $ 650 and push to $ 700. But it will depend on how users respond to technical updates and how the geopolitical situation develops.
General description of the technical analysis
- BNB formed a strong bullish trend, with a remarkable volume support that helped establish a key support level at $ 616.55, according to the technical analysis model of Coindesk Research.
- The most significant rupture occurred when the price increased through the resistance by $ 624.59 and reached the maximum of the $ 627.85 session.
- After several hours consolidating between $ 620 and $ 625, BNB broke the resistance at $ 625.24, indicating the potential for more rise in the range of $ 630- $ 635.
- BNB recovered from $ 619.31 to $ 627.03, adding 1.25% in a strong upward movement that reinforced the bullish impulse, before seeing a decline to stay at $ 621.6.
