BNB Price Analysis of March 11, 2025: BNB Recovers from the Level of $507, Is It Aiming to Shatter $573 Next?

The BNB price today recovered rapidly after marking the low of the day in a bearish phase. This surprised traders and investors, as they wondered if the BNB price trend would hold this new bullish momentum or if it was just another bull spike in a bearish trend. If you are one of them, then this analysis is for you. As we go through BNB price analysis, we examine different patterns and how BNB reacted to them. We will determine the potential support and resistance levels of the BNB price trend. Without any further delay, let’s dive into BNB price analysis and determine where BNB price today could trade in the coming sessions.

BNB Price Analysis of the Last 24 Hours

At 03:35 UTC, the price broke out from a converging triangle, corroborated by a golden cross in MACD. The price formed a spike and channel pattern at 04:30 UTC. RSI moved above the level of 70, indicating an overbought market condition. At 07:00 UTC, BNB tried to break out to the upside of the channel but failed, and the price dropped to the level of $560. 

Chart 1: Analysed by vallijat007, published on TradingView, March 11, 2025

The price marked the high of the day at 09:20 UTC at $573 and again dropped to the downside. The level of $573 now acts as a resistance level. At the same time, RSI moved above 70, indicating an overbought market condition. A range appeared in the price, which tried to break out to the upside at 11:50 UTC but failed, and a spike and channel trend to the downside was seen in the price of BNB. 

BNB Attempts to Break Resistance After V-Shape Recovery

At 14:00 UTC, RSI dropped below the level of 30, indicating an oversold market condition. The channel to the downside tried to break out to the upside, corroborated with MACD at 15:05 UTC, but again failed, and a spike and channel trend to the downside appeared again in the price of BNB. At 19:00 UTC, RSI dropped below the level of 30, indicating an oversold market condition. At 09:20 UTC, a golden cross appeared in MACD, suggesting a reversal or at least a pullback in the price. 

This created a range in the price, which broke out to the downside at 00:15 UTC and marked the low of the day at $507. After marking the low, which now also acts as a support zone, BNB recovered in a V-shape, which is the most extreme recovery, forming a spike and converging triangle pattern. At 07:10 UTC, BNB broke out from the converging triangle to the upside, corroborated by a golden crossover, forming a spike and an expanding triangle pattern in an attempt to break the resistance level of $573.

BNB Forms a V-Shape Recovery, Indicating Potential Support

The V-shape recovery put hope in the minds of investors and traders. This is typically a pin bar in a higher timeframe, as the price dropped and rose rapidly, creating a pin bar. If BNB breaks its resistance level and maintains its momentum, then we may see long-term bullish momentum in BNB. But if BNB fails at its resistance level, a range-bound market could be seen. Traders and investors are encouraged to analyze the BNB price chart by themselves, as the crypto market is subjected to potential risk.