BNB Tests Key $660 Level as Short-Term Bearish Pattern Takes Shape

Binance Coin (BNB) remains steady above the $650 level amid rising global market volatility triggered by escalating trade tensions.

The token briefly climbed to $664 before retracting slightly, yet high trading volumes signal strong support around $650, according to CoinDesk Research’s technical data.

Global markets have been unsettled by President Trump’s recent tariff announcements, bringing renewed uncertainty that has affected major cryptocurrencies, including BNB.

Despite these headwinds, BNB has shown notable resilience, propelled by rapid growth within the BNB Smart Chain ecosystem.

Daily transaction counts on BNB Smart Chain have surged to 14 million, while decentralized exchange (DEX) volume jumped 50% over the past month.

In the last 30 days, DEXs based on the BNB Chain have processed more than $150 billion in trading volume, outpacing competitors like Ethereum and Solana.

This uptick in on-chain activity reflects expanding user adoption and strengthens BNB’s fundamentals, even as macroeconomic challenges persist.

For traders, BNB’s relative stability and strong ecosystem engagement make it a standout in a turbulent market.

Technical Analysis Summary

Over the weekend, BNB demonstrated solid momentum but now shows signs of short-term fatigue after failing to break resistance at $664.

An uptrend began around 2 PM on June 1, with BNB pushing above $650 on above-average volume of 45,756 units. The price climbed toward the $662–$664 range by 1 AM on June 2 but met heavy selling pressure.

Following this, BNB entered a narrow consolidation zone between $658.05 and $659.60, briefly spiking to the upper bound around 7:17 AM before pulling back.

Trading volume peaked twice—at 7:18 AM and again at 7:51 AM—indicating active but indecisive market sentiment.

Since then, BNB’s price has formed a descending channel marked by lower highs, a typical pattern signaling short-term bearish pressure.

However, the $658.00 to $658.20 area remains a reliable support zone, absorbing selling pressure and potentially setting the stage for the next move.

While BNB’s longer-term outlook depends on its ecosystem’s health, short-term traders are closely watching the descending channel. A breakout above recent highs could negate the bearish pattern, while a drop below support might confirm it.