Have you noticed BNB? That cryptocurrency, the one from Binance, is in a pause. Right now it's around $643, and in the last days and weeks, it hasn't gone up or down much. It's in "sideways mode," which means it's moving within a small range.

Why is it like this?

Well, look, there are several things that influence:

  1. The geopolitical gossip: The tensions between Israel and Iran, believe it or not, affect the global market, and cryptocurrencies are no exception! People get nervous and investments slow down a bit. Although, to be fair, cryptocurrencies have held up quite well.

  2. The growth of its own network: The BNB network (the BSC) is on fire! Revenues skyrocketed by 58%, which means a lot of people are using it. This is great and provides support for the price of BNB.

  3. The criminals (yes, you read that right!): Unfortunately, there has also been an increase in illegal transactions on the BSC network. More than 51% of criminal activity on "layer 1" blockchains (the main ones) has occurred on the BSC. This is a negative point to keep in mind.

  4. But there are also good things! The BSC has become a giant in the world of "perpetual" operations (a type of crypto trading), surpassing Ethereum and Solana in volume. And the amount of stable money (stablecoins) circulating in the network is at its highest point in two years, showing that there is a lot of liquidity.

What to expect from BNB?

Right now, BNB is in a "resting" zone between $640 and $680. There isn't much movement, and that can bore those looking for quick gains.

  • If it goes up: It could try to break the barrier of $659, then $693, and if it goes very well, even $732!

  • If it goes down: It has strong supports at $634, then $625, and if things get ugly, the zone between $580 and $600 should be a wall.

Interestingly, a technical indicator (the RSI) shows that BNB is near "oversold," which sometimes means it could bounce back and rise a bit.

In summary, BNB is in a consolidation phase. It has good things (a lot of use of its network, high liquidity) and not-so-good things (criminal activity). The focus is on how the big whales move and whether the market calms down with geopolitical tensions.