The currency $BNB , the original token of the $BNB chain, has decreased by 1.7% over the past 24 hours, affected by increasing market concerns amid the escalating conflict between Israel and Iran, and after U.S. President Donald Trump called on the National Security Council to prepare in the operations room.

The currency $BNB has fluctuated between $659 and $646 during the day, recording a narrow but important trading range. The level of $647 has emerged as a support line for the currency, which is now hovering below it.

Despite the turmoil, the fundamentals of the #BNB chain remain strong.

It has processed over $100 billion in decentralized trading volume (DE,X) over the past month, and more than $10 billion in the last 24 hours.

Investors are now awaiting the Federal Open Market Committee (FOMC) meeting on Wednesday for indications. Any indications regarding interest rates could affect liquidity, particularly in high-risk assets such as cryptocurrencies.

Also in the background is VanEck's pending application for the BNB exchange-traded fund, which was submitted in May. If approved, it could open the door for larger institutional participation.

Overview of Technical Analysis

Strong support is formed at the price of $647, supported by a trading volume increase to 82,311 tokens, nearly three times the 24-hour average.

Resistance is located between the $658 and $659 level, which is the area where the price has been rejected twice amid increasing volume.