BNB Surges Past $590 as Kraken Announces New Binance Coin Listing

On April 22, 2025, Kraken Exchange, one of the top crypto exchange platforms, is set to list Binance Coin (BNB). As a positive scope, the BNB price is experiencing a notable price uptick and surpassing $590. This is because Kraken’s inaugural support for Binance Coin is about introducing trading pairs like BNB/USD, BNB/EUR, and more. As a result, it enhances BNB’s accessibility to a broader investor base. Furthermore, listing BNB on top crypto exchanges like Kraken could potentially lead to increased demand and liquidity. 

Hence, market analysts are closely monitoring the price action of BNB, anticipating BNB price could potentially hit new heights as trading activity unfolds. This development move by Kraken exchange captures the growing institutional interest in BNB. This article analyzes BNB price action for the last 24 hours for your better understanding. Here we go. 

BNB Hits Above $600 – April 21, 2025

On April 21, 2025, BNB’s trading day kicked off with an upward price trajectory, demonstrating a robust bullish momentum. During the early trading session, BNB began to move up and entered the phase of trading range. At 00:40 UTC, BNB encountered an RSI Overbought zone, indicating a possible trend reversal. As expected, at 02:05 UTC, BNB resisted and experienced a short-term fall. But at 02:35 UTC, BNB found support at $598.54, began to move upside, and reached the top price of the day at $608. A Golden Cross on MCD at 04:00 UTC affirmed this uptrend. Subsequently, at 06:00 UTC, BNB encountered an RSI Oversold zone, signaling a trend reversal.

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 22, 2025

Likely, at 06:05 UTC, a pin bar, followed by a full-body red candle, signaled the potential downtrend. Hence, BNB resisted at $608, began to fall, breached a breakout, and dropped to $600.05. A Death Cross on MACD at 06:30 UTC reaffirmed this downtrend. Later, at 11:15 UTC, BNB encountered an RSI Oversold zone, signaling a possible uptrend. Likely, BNB found support at $600.05 and experienced an uptrend. A Golden Cross on MACD at 12:20 UTC asserted this uptrend. At 14:35 UTC, BNB resisted at $605.59, began to fall, broke the support at 598.54, breached a breakout, and dropped to $594. 

At 18:10 UTC, BNB found support at $594 and kept fluctuating within the trading range and closed at $597. An RSI Oversold zone at 18:05 endorsed this ensuing uptrend. A Golden Cross on MACD at 18:15 UTC reaffirmed this uptrend. 

BNB Recovers from $594 – April 22, 2025

As illustrated in Chart 1, on April 22, 2025, the BNB trading day began with an upward momentum, suggesting a strong bullish wave. A Golden Cross on MACD at 00:30 UTC asserted this uptrend. At 00:55 UTC, BNB encountered an RSI Oversold situation, indicating a potential uptrend. As expected, BNB broke the resistance at $598, breached a breakout, and reached $602. At 02:05 UTC, a pin bar, followed by a full-body red candle, signaled a possible downtrend. Likely, BNB experienced a shortfall, pulled back, experienced an uptrend, and broke the resistance at $602. 

BNB Possible Move – Uptrend or Downtrend?

Based on today’s price analysis, BNB price action is experiencing an uptrend, indicating a strong bullish moment. Since BNB broke the key resistance level at $602, it is expected that BNB could hit a new high. In case it doesn’t hold its position, BNB could experience a sharp shift and encounter the phase of a Bear trend. As Kraken exchange is ahead to list BNB at 14:00 UTC, many investors and traders are closely monitoring the BNB movement to find the right time to invest in it. Before investing in any cryptocurrency, do research and make proper risk management to stay ahead of the curve!