BNB Price Analysis (Weekly): BNB Fluctuates Between $635 and $550: Is BNB Developing a Range?

If you are tracking Binance Coin (BNB) and are surprised by its range-bound price trend, then this analysis is for you. As we go through the analysis, we will determine potential support and resistance in the market, identify different patterns, and examine how BNB reacted to them. BNB price today shows bearish momentum. Without any further delay, let’s dive into BNB price analysis and see what the BNB price trend might be in the coming sessions.

BNB Price Analysis of the Last Week

At 01:30 UTC, the price broke out to the upside from a range and developed another range. At 14:00 UTC, the price again broke out from this range, corroborated by a Golden Cross of MACD, and formed a spike. At 17:00 UTC on 1st March, RSI moved above the level of 70, indicating an overbought situation, which helped in the creation of another range. This range broke out to the upside at 15:30 UTC, also supported by a Golden Cross of MACD. In the meantime, RSI moved above the level of 70, indicating a pullback or reversal.

Chart 1: Analysed by vallijat007, published on TradingView, March 8, 2025

After breaking out of the range, the price formed a spike, marking the high of the week at $635 at 21:00 UTC on 2nd March. A Death Cross appeared in the MACD, and the price formed an expanding triangle pattern, pushing the price lower and marking the low of the week at $547. The price broke out from the expanding triangle at 19:30 UTC. At 05:00 UTC on 4th March, a Golden Cross appeared, which helped push the price upward.

Expanding Triangle and Range-Bound Market

At 13:00 UTC on 4th March, the upward-moving channel broke out to the downside but was unable to form a spike, and the price moved sideways. Another channel appeared, which broke out to the downside at 13:30 UTC on 5th March, corroborated by a Death Cross of MACD. However, RSI indicated an overbought market situation. A Death Cross appeared in MACD, supporting the breakout at 09:00 UTC on 6th March from an upward-moving trendline. 

The breakout formed an expanding triangle pattern, which pushed the price lower, and the RSI moved below the level of 30, indicating an oversold market condition. The expanding triangle broke out to the upside at 04:30 UTC on 7th March and formed a range. The range broke out to the downside at 20:30 UTC and formed another range. That range again broke out to the upside at 03:30 UTC on 8th March, indicating a range-bound market in BNB.

BNB Price Today: Fluctuating Between Key Levels with Bearish Sentiment

BNB price today is fluctuating between key resistance and support levels, with bearish sentiment in the higher timeframe. If BNB breaks its support level, further downside could be seen. On the other hand, BNB can create a very range-bound market if it is unable to break the support level. Given the high level of risk associated with the cryptocurrency market, traders and investors are urged to do their own analysis of BNB price patterns. Before making any trades, everyone should evaluate their trading style and risk tolerance.