- BNB price gives a decisive breakout from the resistance trendline of six months correction from falling wedge pattern.
- A total of 1,569,307.34 BNB tokens were permanently removed from circulation during the 35th quarterly burn on April 15th.
- The downsloping slopes of 50-100-and-200-day EMA slope could act as dynamic resistance against recovery attempt from BNB price.
BNB, the native token of the BNB Chain, is up 0.72% in the last 24-hours to currently trade at $621 mark. The coin price gained its initial momentum from broader market uptick as the U.S. and Iran are in indirect talks to extend the two-week ceasefire. However, the BNB price gained an additional boost following the 35th quarterly token burn which incinerated 1.57 million BNB (~$1 billion), directly reducing circulating supply and supporting price.
BNB Burns $1.02B in 35th Quarterly Token Burn
On April 15, BNB Chain completed its 35th quarterly token burn, which permanently removed 1,569,307.34 BNB out of circulation. The lost tokens were worth about $1.02 billion in the market during the operation.
The automatic process, based on on-chain transaction fees, decreased the overall BNB supply to 134,786,916.53. This is the second of these burns of 2026 and an extension of the fixed schedule of the protocol of contraction of supply.
Burn is done in a fully transparent formula-based Auto-Burn system that is pegged to BNB price and block production on the BNB Smart Chain. Tokens sent to a dead address become unrecoverable, directly lowering available supply every three months. The precise figures are reported in official records without any further manual manipulations.
This action constitutes a part of BNB continuous operation of reducing its maximum supply to a long-term goal of 100 million tokens. By shrinking available supply, the event creates a greater scarcity for existing holders. Over repeated cycles, the token buying mechanism could tighten market liquidity, often alternating trading dynamics, relative demand pressure, and network activity.
BNB Price Breaks Out of a Six-Month Bearish Pattern
Over the past six months, the BNB price witnessed a steady correction from the $1,375 to $570 support, accounting for a loss of 48%. Interestingly, the downtrend resonated strictly within two converging trendlines, which revealed the formation of a falling wedge channel pattern in the daily chart.
Typically, this chart pattern is marked as an end-of-correction setup as the converging nature of the dynamic resistance and support gradually weakens the bearish momentum in price. On April 7th, the coin price gave a decisive breakout from the pattern’s resistant trendline, as the de-escalating geopolitical tension bolstered market-wide recovery.
Last week, the BNB price retested the breached trendline as potential support to validate its sustainability for higher security. Following the quarterly burn and easing geopolitical tension, the BNB price has bounced to current trading value of $620.
With sustained buying, the coin price could drive a 11% surge and challenge the overhead horizontal resistance of $688, followed by a potential surge toward $800.
The Binance coin currently trades above the 20-day exponential moving average, accentuating the early positive change in market sentiment. However, the downsloping slope of 100-and-200-day EMA indicates the broader trend is bearish.
On the contrary note, if buyers face overhead supply at this EMAs or $0.687 resistance, the BNB price could prolong its sideways trend.
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