BNB Price Analysis of March 5, 2025: BNB Recovers from $546 Crash and Tests $604 Resistance Level

Binance saw significant price fluctuations over the past 24 hours, with an initial breakdown followed by an upward channel and a breakout attempt. Despite bullish efforts, the price is facing resistance, which could determine its next move. Technical indicators suggest that market sentiment remains mixed, with overbought conditions hinting at a possible reversal. If the BNB price today holds above the resistance, an extended rally could follow. However, a failure to sustain momentum may lead to a pullback. In this BNB price analysis, we’ll evaluate key levels and what’s next for BNB.

BNB Breakout Above $580.44 Confirmed, But Will the Momentum Hold?

The trading day started with a slight upward move, encountering resistance at $580.44. Shortly after, at 00:35 UTC, a death cross appeared on the MACD line, triggering a sharp downward move. The RSI indicator showed oversold conditions at 1:45 UTC and 2:05 UTC, leading the price to find support at $546.86. At 2:30 UTC, the MACD line formed a golden cross, initiating an upward channel. The price fluctuated within a moderate trading range, maintaining an upward trend. At 12:00 UTC, the MACD line signaled a potential downward move, causing slight fluctuations. 

Chart 1, Analyzed by ShwetaCW, published on TradingView, March 5, 2025

However, at 14:35 UTC, an oversold situation pushed the price upward, keeping it within the trading range. At 16:50 UTC, another golden cross appeared, reinforcing an upward trend. By 18:55 UTC, the price broke the resistance level, confirming a breakout at 19:00 UTC due to an overbought RSI. The price briefly struggled near the previous resistance, but the upward momentum continued, confirming the breakout. At 22:00 UTC, a death cross on the MACD line suggested a slight downward trend, pushing the price toward a support level that was previously a resistance zone.

Upward Channel Strengthens BNB Amid Golden Cross Signals

The trading day of March 5th began with a slight downward trend, influenced by the previous day’s death cross. However, at 1:00 UTC, a golden cross on the MACD line initiated an upward channel. The RSI indicator showed oversold conditions at 1:55 UTC and 2:20 UTC, pushing the price upward. At 2:45 UTC, a death cross suggested a downward movement, but the overall upward trend remained intact. Overbought conditions at 7:00 UTC and 7:25 UTC maintained the upward momentum. Another golden cross at 8:00 UTC fueled the price further, and with continuous overbought conditions at 8:35 UTC and 9:30 UTC, the price reached a resistance level of $604.86.

Binance Price Prediction: Will BNB Hold Above $604.86 or Face a Reversal?

In the past 24 hours, BNB price today showed volatility, experiencing a breakdown, an upward channel, a breakout, and another push toward a potential breakout. If the upward momentum continues, the price could break past the current resistance at $604.86. However, failure to sustain above this level may indicate a fakeout, leading to a possible retracement. On the downside, if bearish pressure increases, BNB could break below the $580.44 support level, which previously acted as resistance. Binance price prediction suggests traders should watch for confirmation signals to determine the next move in this BNB price analysis.