$BNB

As of March 21, 2025, Binance Coin (BNB) is trading at $627.67, reflecting a slight increase of 0.01029% from the previous close.

In recent developments, BNB has encountered resistance around the $640 mark. Despite a V-shaped recovery from a low of $531, the coin has struggled to surpass this critical supply zone, leading to a consolidation phase and subsequent pullback.

However, the Binance Smart Chain (BSC) ecosystem continues to show robust growth. Notably, BSC has overtaken Solana in daily decentralized exchange (DEX) trading volume, with its Total Locked Value (TVL) increasing by 7% over the past week to reach $5.334 billion. PancakeSwap, a leading DEX on BSC, has become the top DEX by revenue, further strengthening the network's position. Increased bridging activity, particularly from Ethereum, has also contributed to the growing demand for BNB.

Technical analysis indicates that breaking above the $640 resistance level could signal the next bullish phase for BNB, with potential price targets between $672 and $717. Conversely, if the price faces further rejection or a deeper pullback, support levels are identified at the 38.2% Fibonacci level around $595 and the 23.6% level near $570.

Overall, while BNB faces short-term resistance, the expanding BSC ecosystem and increasing DeFi adoption present a positive outlook for the coin's future performance.