Binance Coin (BNB) has recently experienced some volatility in the market, as it struggles to break through a crucial supply zone at the $640 mark. Despite a recovery in price over the past week, the digital asset is facing growing resistance, and market watchers are eager to see if the token can manage a breakout rally or if a deeper pullback is on the horizon.

As of March 19, 2025, BNB is trading at around $617, showing a 7-day return of 11.39%. However, after a brief recovery, the token price is beginning to lose steam, with an intraday pullback of 1.72%. This leaves many investors wondering whether the price will continue to rise, face a correction, or slip back to lower levels.

Struggling to Break the $640 Resistance

On the 4-hour price chart, BNB has experienced a V-shaped reversal from a recent low of $531. The recovery run successfully surpassed the previous resistance trendline, fueling initial optimism for a rally. However, BNB’s price has struggled to push past the significant supply zone at $640. This resistance point has halted the bullish momentum, and after a brief consolidation phase, the coin experienced a pullback.

At present, the pullback is testing the 50% Fibonacci retracement level at around $617, a critical point that could dictate the direction of the price in the short term. While the price managed to find support here, the technical indicators are signaling a bearish shift. The MACD line has crossed into negative territory, with the histograms turning red, which suggests a potential weakening of bullish momentum.

Additionally, the Supertrend indicator, which previously suggested an uptrend, has now indicated a bullish line at $601.9, providing some support for BNB’s price. However, the continued bearish candlestick formation signals that the market is currently digesting the influx of supply, and a deeper correction to the psychological level of $600 could be possible.

Binance Smart Chain Growth Could Fuel Future Price Action

Despite the short-term uncertainty around BNB’s price, there is significant optimism surrounding the growth of the Binance Smart Chain (BSC). As reported by Elja Boom, the founder of OKSE, the BNB ecosystem is showing signs of strong expansion, particularly in decentralized finance (DeFi).

The BSC network has recently surpassed Solana in daily decentralized exchange (DEX) trading volume. Moreover, the Total Locked Value (TVL) of BSC has seen a 7% increase over the past week, reaching $5.334 billion. The growth of PancakeSwap, the leading decentralized exchange built on BSC, has further solidified the network’s strength, as it has become the number one DEX by revenue.

Bridging activity has also increased significantly, particularly from Ethereum, adding to the growing demand for BNB. As more users and projects flock to Binance Smart Chain, the demand for BNB could follow suit, contributing to the asset’s upward momentum.

Key Price Levels for BNB

Technical analysis of BNB’s price reveals that the breakout above the $640 resistance level will be crucial for confirming the next bullish phase. If BNB manages to break above this level, Fibonacci projections suggest potential price targets ranging from $672 to $717.

However, if the price faces further rejection at the $640 supply zone or a deeper pullback occurs, key support levels lie at the 38.2% Fibonacci level around $595 and the 23.6% level near $570. These levels could serve as strong support areas for BNB if the price fails to gain momentum and corrects further.

Conclusion

Binance Coin is at a critical juncture, with its price struggling to break through the $640 resistance zone. While the growing adoption of the Binance Smart Chain and DeFi ecosystem provides a positive outlook, short-term technical indicators suggest that the price could face further corrections if the breakout does not materialize. Investors should watch for a decisive move above $640, which could pave the way for a rally to higher levels, while a failure to break this resistance could lead to further pullbacks.