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The BNB price dropped over 1% in the last 24 hours to trade at $599.60 as of 3:39 a.m. EST, with trading volume skyrocketing 103% to $1.7 billion.
The drop comes despite American investment manager VanEck’s expanding footprint in the growing digital assets sector with a BNB ETF (exchange-traded fund) registration.
VanEck will establish a trust which will serve as a preparatory measure in the ETF launch process preceding the formal application from the US Securities and Exchange Commission (SEC).
This is great for Binance $BNB hodlers 🔥🔥
🇺🇸VanEck files to establish a trust entity for a proposed $BNB ETF in Delaware pic.twitter.com/tqyFOq4dI6
— Ajay Kashyap (@EverythingAjay) April 2, 2025
Moreover, the filing marks the first attempt to launch a Binance Coin ETF specifically in the US market.
But can this help push more funding into the BNB price?
Binance Coin Trading Within A Critical Support Area
The BNB price is exhibiting a long-term rising channel, consistently moving within an upward-sloping parallel range.
The Binance Coin price has respected this channel for several months, with multiple touchpoints on both the upper and lower trendlines.
However, recent price action shows that BNB is struggling to sustain above the channel’s mid-range, currently at $599.60, according to GeckoTerminal data.
A notable breakdown from the 50 Simple Moving Average (SMA) on the 3-day chart ($651.69) suggests bullish momentum is weakening. The 200 SMA ($485.35) remains significantly lower, acting as a crucial long-term support.
The price of Binance Coin has previously bounced off the lower trendline of the rising channel, indicating strong buying interest near support levels.
Meanwhile, the Relative Strength Index (RSI) is currently at 45.20, which is below the neutral 50 level. This indicates that bearish momentum is starting to dominate, but the asset is not yet in oversold territory.
The Moving Average Convergence Divergence (MACD) shows signs of bullish momentum, as the blue MACD line on the 3-day timeframe is positioned above the orange MACD Signal line.
BNB Price Prediction
According to the BNB/USDT chart analysis, the Binance Coin price is at a critical juncture. If the price of BNB fails to reclaim the $650 level, it could drift lower toward the $550 range and potentially test the $500 support.
However, as long as the price of the Binance Coin remains inside the rising channel, the long-term trend remains bullish.
A confirmed bounce from the lower channel trendline and a bullish MACD crossover suggest a potential rally back towards $700.
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says has the potential to soar 100X after launch.
Best Wallet Presale Closes On $12 Million – Next 100X Crypto?
The Best Wallet presale has just crossed the $11.5 million milestone, and it is easy to see why. With a user-friendly design, advanced features, and high staking rewards, many see the project as the future of crypto wallets.
Over $11M Raised & Counting! 💎
The Best Wallet ecosystem keeps growing, and early holders are locking in their spot. 🚀
Now is your chance to secure exclusive rewards and be part of the next-gen crypto wallet.
Don't miss out! 👉 https://t.co/eMjBsXbv1H pic.twitter.com/p3E6BvxnDS
— Best Wallet (@BestWalletHQ) March 14, 2025
It provides a seamless way to manage, trade, and store cryptocurrencies without requiring identity verification.
The wallet also features Best DEX, which enables direct crypto trading and integrates with more than 200 other exchanges to find the best swap rates. It introduces a native presale aggregator and crypto debit card, offering support for over 60 blockchains.
Discover Hot New Crypto Projects With The “Upcoming Tokens” Section
Among Best Wallet’s many features, one is gaining outsized interest from investors. That is its “Upcoming Tokens” section, which helps users discover promising projects still in the early stages.
The project’s success in identifying promising cryptos is already well established. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
Investors can also stake BEST tokens for a huge 138% annual return. Currently, BEST tokens are priced at $0.024575.
Those interested should buy before a price hike in around 35 hours.
Check out BEST on its official website.
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