Recently, Binance CEO CZ met Malaysia’s Prime Minister and discussed crypto advancement and blockchain innovation. This meeting was reported by Crypto Rover on X, which sparked a notable reaction with the Binance Coin price. That is, after the announcement, the BNB price surged by 3.5% within one hour and reached $612. Further, in the last 24 hours, BNB trading volume has seen a significant increase, boosting investors’ confidence. This indicated a sign of positive price movement and attracted the interest of many investors. Let’s dive in and analyze the past 24 hours of BNB performance on the trading chart for a clear perspective.
BNB Tops above $600 – April 22, 2025
On April 22, 2025, the trading day commenced with BNB having established a dynamic price action, demonstrating a bullish momentum. During the early trading session, BNB began to rise briefly. A Golden Cross on MACD at 00:40 UTC signaled this uptrend. But at 01:40 UTC, BNB encountered an RSI Overbought situation, indicating a potential trend reversal. Likely, at 02:00 UTC, BNB resisted at $603.07 and experienced a short-term fall. However, at 03:10 UTC, BNB found support at $598.09 and began to move up. A Golden Cross on MACD at 04:10 UTC affirmed this uptrend.
At 07:30 UTC, BNB broke the resistance at $603.07 and continued its uptrend. At 08:30 UTC, BNB price resisted at $606.93 and dropped to $604.46. Conversely, at 09:50 UTC, BNB found support at $604.46 and moved in an upward channel. A Golden Cross on MACD at 12:20 UTC affirmed this uptrend. Subsequently, at 14:55, BNB encountered an RSI Overbought situation, indicating a potential trend reversal. As expected, at 15:05 UTC, a pin bar, followed by a full-body red candle, signaled a downtime. Likely, BNB resisted at $611.91 and experienced a brief fall.
Conversely, at 21:15 UTC, BNB found support at $607.01 and moved up. At 21:45 UTC, BNB broke the resistance at $611.91, spiked, and reached $614.41. At 21:55 UTC, BNB resisted at $614.41, experienced a short-term fall, bounced back, and moved up. At 23:25 UTC, BNB broke the resistance at $614.41 and reached the day’s top price of $620. At 23:50 UTC, BNB resisted at $620, experienced a short-term fall, and closed at $616.83.
BNB Fluctuating Between the Key Levels – April 23, 2025
As illustrated in Chart 1, on April 23, 2025, the BNB trading day exhibited a notable price fluctuation within the key levels. During the early trading session, BNB began with a brief rise, demonstrating a bullish momentum. Substantially, at 00:20 UTC, likely at 00:25 UTC, BNB resisted at $620 and experienced a sharp decline. A Death Cross on MACD at 00:30 reaffirmed this downtime. However, at 01:55 UTC, BNB found support at $612.22 and experienced an uptrend. A Golden Cross on MACD at 03:20 UTC asserted this uptrend.
At 04:50 UTC, BNB price movement breached a breakout, spiked, and reached $620. However, at 05:30 UTC, BNB encountered an RSI Overbought situation, indicating a trend reversal. Likely, at 05:35 UTC, BNB resisted at $620, experiencing a downfall.
BNB’s Possible Scenario
Based on the price analysis, BNB price movement is experiencing sharp shifts at the key levels. Currently, it is attempting to break the key support at $612.22. If it succeeds in its attempt, BNB could encounter a bearish trend. But if BNB fails in its attempt, bounces back, and breaks the key resistance at $620 and reach a new high. The meeting between Binance CEO CZ and Malaysia’s Prime Minister boosted Binance Coin (BNB) price significantly within 24 hours. Analysts predict that BNB could hit new highs if Binance implements its future development plans, as discussed with Malaysia’s Prime Minister.
Source: Coinfomania / Digpu NewsTex