Orhan 
BNB, a cryptocurrency launched by Binance, one of the world’s most popular crypto exchanges, in 2017. Initially created as an ERC-20 token on the Ethereum blockchain, BNB later transitioned to Binance’s proprietary blockchain, Binance Chain, and subsequently to the BNB Smart Chain (formerly known as Binance Smart Chain).
Originally designed to pay transaction fees on Binance and provide users with various benefits, BNB’s use cases have expanded significantly as the ecosystem grew, making it a utility token with multiple applications.
BNB Price Analysis: Current Trends
BNB has recently shown a remarkable upward movement. Strong buying pressure from the $600 level has driven a rapid price recovery. Currently trading around $653, the coin has regained investors’ attention.
In the short term, some profit-taking and liquidation around the $653 level seem likely, potentially causing the price to pull back to $630. This level will act as critical support, and holding above it is vital. A close below $630 could signal the start of a bearish trend, which investors should monitor closely.
In the long term, the $675 level stands out as a significant resistance point for BNB. A sustained move above this level could lead to the formation of a new higher high (HH), potentially pushing BNB toward its all-time high (ATH). This scenario could present a substantial upside opportunity for investors.
BNB’s performance in the coming days will be pivotal in shaping both short-term and long-term market expectations.
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