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CoinDesk 2025-05-29 17:04:59

BNB Breaks $687 Resistance as Investors Seek Crypto Hedge Amid Global Tensions

BNB Breaks $687 Resistance as Investors Seek Crypto Hedge Amid Global Tensions

Recent escalations in global trade disputes have created a complex backdrop for cryptocurrency markets, with BNB demonstrating notable strength despite economic headwinds. The token's upward momentum comes as investors seek alternative assets amid traditional market volatility caused by ongoing geopolitical tensions. While central banks worldwide adjust monetary policies to combat inflation, digital assets like BNB are increasingly viewed as potential hedges against economic uncertainty. Technical Analysis Highlights Price action formed a clear uptrend, breaking through key resistance at $687.50 with above-average volume during the 00:00 hour push to $691.06, establishing new support at the $688.70 level. Most significant price movement occurred between 23:00-00:00 when BNB surged on 45,675 units of volume (well above the 24-hour average), confirming strong buyer conviction. In the last hour, BNB experienced a notable price correction, retreating from its earlier peak of $690.11 at 01:21 to $688.87 by 02:06, representing a 0.18% decline. Increased volatility between 01:50-01:53 when it briefly rallied to $689.85 before encountering resistance, followed by a sharper downward movement at 01:57. Price dropped from $689.53 to $689.13 on significantly higher volume (926.88 units), suggesting profit-taking after the earlier uptrend. External References " BNB Price Analysis and Short-term Forecast ", CoinPedia, published May 27, 2025. " Binance Coin (BNB) Nears $700 Resistance: Is $750 Next? ", The Crypto Basic, published May 28, 2025.

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