BNB (BNB) Price: Approaching All-Time Highs While Market Lags

TLDR

BNB trades at $655.35, just 17% below its all-time high of $793, outperforming most major cryptocurrencies Token burns have reduced supply from 200 million to 140 million tokens in circulation Technical indicators show tight consolidation with potential breakout above $660 resistance level Staking demand and locked tokens continue to reduce available supply on the market Price predictions for 2025 range from conservative $613 to bullish $1,434 targets

---

BNB continues to trade near $655 after posting a 0.89% gain in the past 24 hours. The cryptocurrency maintains its position as one of the few major altcoins trading close to its all-time high levels.

BNB Price

Trading volume reached $1.44 billion over the past day, representing a 1.64% increase. The token has averaged $655.38 over the past week, showing relatively stable price action.

BNB currently sits just 17% below its December 2024 all-time high of $793. This performance contrasts sharply with other major cryptocurrencies, many of which remain 40% or more below their peak values.

The cryptocurrency broke above $700 twice in 2024 before reaching its current all-time high. Solana was the only other major altcoin to achieve similar new highs during the same period.

Technical Analysis Shows Consolidation Pattern

Current technical indicators suggest BNB is trading within a tight range. The Bollinger Band Width sits at 6.69%, indicating suppressed price movement and low volatility.

The Average Directional Index (ADX) registers 76.4, suggesting strong trend presence despite recent consolidation. However, the Directional Movement Index spread shows potential weakening in directional strength.

Source: TradingView

The Relative Strength Index (RSI) stands at 41.58, approaching oversold territory but not yet reaching those levels. The MACD remains below its signal line at 1.95 versus 6.40, supporting the current bearish sentiment.

Analysts identify key support around $648 and resistance between $660 and $671. Trading strategies suggest short positions near $660 with proper risk management, while long positions are recommended only above $671 with strong momentum confirmation.

Supply Dynamics Drive Price Resilience

BNB’s tokenomics contribute to its price stability. The cryptocurrency started with 200 million total tokens, with Binance committing not to create additional supply.

Source: Glassnode

Regular token burns have permanently removed over 60 million tokens from circulation. Each burn typically destroys between $800 million and $1 billion worth of BNB, depending on current price levels.

The burn mechanism aims to reduce total supply to 100 million tokens, representing a 50% reduction from the original amount. Current circulating supply stands at approximately 140 million tokens.

Staking and ecosystem lockups further reduce freely trading tokens. This combination of capped supply, regular burns, and locked tokens creates scarcity dynamics that support price levels.

Total Value Locked (TVL) in the BNB ecosystem recently reached a three-year high above $6 billion. Stablecoin supply has also hit a two-year peak, indicating available capital on the sidelines.

Price predictions for 2025 vary considerably among analysts. DigitalCoinPrice projects BNB could reach $1,434.17 by year-end, representing a return to and significant expansion beyond current all-time highs.

Changelly offers more conservative projections, with a maximum price target of $613.16 and an average of $676.31. This forecast suggests a modest 3.9% expected return for June 2025.

Risk management remains crucial given current market conditions. Most analysts recommend waiting for either a clear break above $660 or a move below $642 before taking larger positions.

BNB’s current trading price of $655.35 with tight consolidation patterns suggests the market is preparing for its next directional move.

The post BNB (BNB) Price: Approaching All-Time Highs While Market Lags appeared first on CoinCentral.