BNB

Bitcoin's unexpected drop to $26,000 had a significant impact on the market, dragging many altcoins down. However, some like XRP, BNB, and MATIC managed to remain unaffected. The market seems to be entering a consolidation phase after the drop.

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The daily technical chart of Binance Coin (BNB) clearly demonstrates the decisive impact of the determined support and resistance levels on the price movement. In the recent analysis, it provides us with important clues to understand possible future trends by examining the price's past performance.

When analyzing the 2-hour technical chart of Binance Coin (BNB), it can be seen that the upward movement, which started with strong buying at $235.3, continues. The mentioned resistance and support levels are of critical importance for investors.

In a significant development for the Japanese cryptocurrency market, the JVCEA has announced the addition of BNB and ALGO to its platform. This marks the first time these cryptocurrencies will be available for trade in Japan, with the service set to commence from August 1, 2023. The JVCEA has also been working towards improving its review process for new cryptocurrency listings, with the aim of boosting the crypto industry.

Despite regulatory uncertainties and market fluctuations, the BNB network has maintained its strong position, with over 4 million active users.

According to the technical chart of Binance Coin (BNB), the price is seen moving near the support level of $235 - $232 and horizontally below the resistance level of $246. In our article, we will carefully focus on the possible price movements and decisive support-resistance levels of BNB in the future.

The number of daily active users on BNB Chain is increasing; BNB Chain solidifies its position in the TVL rankings.