BNB Drops 11.6% Before Recovering Amid Trump Tariff Concerns
The cryptocurrency market is experiencing volatility due to geopolitical tensions and trade policies. BNB has shown a trading range of 13.2% recently, indicating significant price fluctuations.
Key points include:
- Technical support levels around $540-$545 and resistance at $565-$570.
- BNB faced an 11.6% drop from $589.78 to $521.16 before recovering to $585.61.
- Increased trading volumes were noted during selloffs and recoveries, with over 199,000 units traded during a surge on April 9th.
- A bullish channel has formed since April 7th, suggesting potential upward momentum.
- Recent declines indicate critical support in the $575.00-$575.50 zone.
BNB Chain is expanding its ecosystem by launching 16 new projects in its Most Valuable Builder Accelerator Program, aimed at supporting Web3 developers and onboarding users.
Market dynamics shifted as Bitcoin's correlation with equities evolved amid trade war rhetoric, with renewed growth possible if macro conditions stabilize.