Market Direction

BNB heads towards $640–$670 zone

Published: Apr 4, 2025

BNB is showing resilience but remains in a broader downtrend. Traders are eyeing short positions near key resistance levels between $640 and $670, with downside targets at $545 and $500.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

Technical analysis & market mechanics

BNB is currently showing resilience but remains within a broader downtrend.
Local resistance sits at $615, capping recent upside attempts.
Local support is defined at $580, the current lower bound of short-term structure.
Clean resistance exists at $640, aligning with short liquidation clusters - first major short trigger.
Additional short trigger levels at $656 and $670, creating a tiered entry zone.
$670 aligns with the 61.8% fib retracement from the $731 high to the $507 low.
Key support rests at $545, a prior pivot and consolidation area.
Long-term support sits at $500, representing the Q4 2023 range base - tested twice already
Price action remains speculative, driven partly by CZ's social activity and ecosystem headlines.
Open interest is currently at $592M, down from $636M on March 28, indicating some risk-off behavior and cooling interest.

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Next Support: $580
Next Resistance: $615
Direction: Bullish
Upside Target: $640
Downside Target: $500

Cryptonary's take

BNB has moved away from our prior sell zone and is now presenting a cleaner short opportunity as liquidation levels stack above $650.

With speculative activity being driven by CZ's presence on X, the asset may experience some counter-trend upside against the broader market, precisely what we want to short into. We're watching the $640-$670 region as our tiered entry zone, scaling shorts at $640, $656, and $670.

On the downside, $545 marks key interim support, with $500 as the ultimate target - a full retracement back to the Q4 range base. Open interest has cooled slightly, and funding remains flat, meaning positioning is clean.

The setup is high-conviction once the price moves into resistance; this is going to be tough to achieve, but if we do get this, it shapes up as a beautiful short opportunity.