Binance Coin

BNB Price Rebound Possible: Can It Climb Back to $720?

Published

5 months ago

January 9, 2025

BNB price is consolidating above the $675 support zone. The price is consolidating and might aim for a fresh increase above the $700 resistance.

BNB price is struggling to settle above the $700 pivot zone.
The price is now trading below $700 and the 100-hourly simple moving average.
There was a break above a connecting bearish trend line with resistance at $695 on the hourly chart of the BNB/USD pair (data source from Binance).
The pair must stay above the $680 level to start another increase in the near term.

BNB Price Holds Support

After a downside correction, BNB price found support at $675. It is now recovering losses like Ethereum and Bitcoin. There was a move above the $685 level.

The price was able to recover above the 23.6% Fib retracement level of the downward move from the $745 swing high to the $674 low. There was also a break above a connecting bearish trend line with resistance at $695 on the hourly chart of the BNB/USD pair.

The price is now trading below $700 and the 100-hourly simple moving average. If there is a fresh increase, the price could face resistance near the $700 level. The next resistance sits near the $710 level or the 50% Fib retracement level of the downward move from the $745 swing high to the $674 low.

A clear move above the $710 zone could send the price higher. In the stated case, BNB price could test $725. A close above the $725 resistance might set the pace for a larger move toward the $740 resistance. Any more gains might call for a test of the $750 level in the near term.

Another Dip?

If BNB fails to clear the $710 resistance, it could start another decline. Initial support on the downside is near the $685 level. The next major support is near the $675 level.

The main support sits at $650. If there is a downside break below the $650 support, the price could drop toward the $642 support. Any more losses could initiate a larger decline toward the $625 level.

Technical Indicators

Hourly MACD – The MACD for BNB/USD is losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $685 and $675.

Major Resistance Levels – $700 and $710.

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Altcoin

BNB Bulls Target $644 As Classic Chart Formation Emerges

Published

4 weeks ago

May 5, 2025

admin

Binance Coin (BNB) is gaining fresh interest as investors closely watch a potential breakout. The token is facing resistance around $593, with daily trade volume at $1.24 billion. Its market cap is $83 billion. The current trend is being attributed to sustained buying interest and continuous technical cues.

Traders Identify Triangle Pattern On BNB Chart

Technical analysts are keenly watching a triangle price pattern forming on the chart of BNB against USDT’s 1-day chart. As analyst Andrew Griffiths explains, this formation is recognized for contracting price action, whereby the highs become lower and the lows become higher. It typically indicates a significant move in the near future, either higher or lower.

#BNB analysis on the 1D chart vs USDT shows price movement within a triangle pattern, indicating room for the current side trend. Potential targets: T1 = $599, T2 = $617, T3 = $644. For risk management, consider Stop-Loss levels: SL1 = $580, SL2 = $559, SL3 = $542, SL4 = $521.… pic.twitter.com/Qku1eChZ4R
— Andrew Griffiths (@AndrewGriUK) May 3, 2025

The graph indicates BNB trending in a narrower range for the past few sessions. Such a setup typically indicates that there is a breakout on the horizon. As BNB has been on an upward trend prior to this pattern forming, some assume it will keep going up—if the support zones hold. However, a breach below those support levels might reverse the trend and push the price down.

Price Targets Established At $599, $617, And $644

If BNB keeps surging, analysts have cited three possible targets. The first is $599, which is just below the psychological barrier of $600. The second is $617, a place where BNB fought to move above back in March.

The third is $644, which is the entire range of the triangle formation. These will likely be checkpoints if there is momentum.

Although short-term bullish indications are there, the token has not yet breached any of these levels. For now, BNB is probing a significant level of support and resisting. This type of price action is typical before bigger moves in either direction.

BNB: The 32% Prediction

In spite of all the short-term hype, a different forecast shows BNB plummeting in the next year. Based on a price forecast, the token might decline by 32% and hit $402 on June 4, 2025. That prediction doesn’t coincide with the existing chart strength, creating an extra layer of uncertainty for long-term investors.

BNB has experienced 15 green days out of the past 30, and its price volatility has been only 2.5%. The sentiment of the market seems to be neutral for the time being, with the Fear & Greed Index standing at 52. Everyone is still focused on the triangle formation and if BNB will extricate itself from it.

Featured image from Gemini Imagen, chart from TradingView

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Binance Coin

BNB Price Coils at Support — Bounce Looks Ready to Launch

Published

1 month ago

April 30, 2025

admin

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

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