Binance Coin (BNB) Price Prediction & Analysis: Eyeing $635 Target After Reclaiming $600

TLDR

BNB price broke above $600 and is showing bullish momentum Kraken exchange announced new BNB listing with trading pairs including BNB/USD and BNB/EUR A bullish trend line is forming with support at $611 on the hourly chart BNB found support at $594 on April 21 before recovering The next resistance levels are at $620 and $635

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Binance Coin (BNB) has shown strength in the crypto market, rising above the $600 mark after forming a solid base at the $580 support zone. The asset is demonstrating bullish momentum as it consolidates gains, with technical indicators pointing to potential further upside movement in the near term.

The price action for BNB has been positive, with bulls pushing the asset above several key resistance levels including $595 and $600. This upward movement mirrors similar patterns seen in other major cryptocurrencies like Bitcoin and Ethereum.

BNB reached a high of $620 before experiencing a minor correction. Even after this pullback, the price remains above the important $600 level and the 100-hourly simple moving average, suggesting underlying strength in the current trend.

BNB Price

Technical analysis reveals a connecting bullish trend line forming with support at $611 on the hourly chart of the BNB/USD pair. This formation often indicates continued upward momentum if the support holds.

For BNB to continue its upward trajectory, maintaining position above the $600 level appears crucial. This price point serves as a psychological and technical support that could determine the direction of the next major move.

Kraken Listing Boosts Accessibility

A major catalyst for BNB’s recent price movement is Kraken Exchange’s announcement that it will list Binance Coin on April 22, 2025. As one of the top crypto exchange platforms globally, Kraken’s decision represents a vote of confidence in BNB.

The listing will introduce several trading pairs including BNB/USD and BNB/EUR, making the asset more accessible to a broader investor base. Traders and investors are watching this development closely, as increased exchange support often leads to higher liquidity and demand.

Kraken’s move to support BNB reflects growing institutional interest in the asset. With the listing scheduled for 14:00 UTC, many market participants are positioning themselves ahead of the potential price action that might follow.

The timing of this listing coincides with BNB’s technical breakout above important resistance levels, potentially creating a compound effect on price movement.

Price Action Analysis

Looking at the recent price history, BNB has shown interesting patterns over the past two days. On April 21, 2025, BNB started with upward momentum but encountered resistance after reaching $608.

After hitting this resistance, BNB experienced a pullback to $600.05 before finding support. Later in the day, the price dropped further to $594, which proved to be another support level where buyers stepped in.

On April 22, 2025, BNB continued its recovery, breaking above the $598 resistance and reaching $602. This price action demonstrates the asset’s resilience and the market’s willingness to buy at these levels.

#BNB Price Update 🚨Key Level Ahead

BNB is holding above a strong support zone and now approaching a key descending trendline. The $600–620 range remains a strong resistance zone to watch.

A breakout above this trendline could shift the structure bullish, with the next major… pic.twitter.com/93v942Njdu

— CRYPTOMOJO_TA (@CRYPTOMOJO_TA) April 20, 2025

The hourly chart shows multiple technical signals that align with the bullish narrative. Golden Cross formations on the Moving Average Convergence Divergence (MACD) indicator have appeared at critical junctures, reinforcing the uptrend.

In terms of resistance levels, BNB faces immediate hurdles at $618 and $620. A clear break above $620 could open the path toward $635, which serves as the next significant resistance.

If BNB successfully breaks above $635, analysts suggest that $650 and eventually $665 could become targets in the near term.

On the downside, if BNB fails to maintain momentum above $620, it could face a retracement. Initial support exists at $611, followed by $607. The crucial support remains at $600, below which the price could drop toward $585 or even test the $580 level again.

The Relative Strength Index (RSI) has shown both overbought and oversold conditions at various points, providing traders with potential entry and exit signals. These technical indicators have been relatively reliable in predicting short-term price movements.

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