|

Binance Coin Price Prediction: BNB locks in on $600 as it bounces off crucial support level

  • Binance Coin price is ricocheting off the $449.53 support level, hinting at the start of a new uptrend.
  • A successful breach of $517.17 will confirm the resurgence of buyers and the start of a new rally.
  • If BNB breaches below the $434.10 demand barrier, it will invalidate the bullish outlook.

Binance Coin price struggled with its uptrend as it encountered a massive resistance level. Failure to stay afloat dragged BNB lower, where it currently retests a support barrier. Investors can expect a comeback from the buyers, pushing the altcoin higher. 

However, considering the big crypto’s choppy market structure, Binance Coin could kick-start a consolidation phase if it fails to reclaim the said resistance barrier.

Binance Coin price ready for a new uptrend

Binance Coin price rose 15% between August 21 and 26 as it sliced through the $517.17 resistance barrier. However, the bulls failed to sustain the upswing and were met with investors booking profit, which eventually led to a 13% retracement.

BNB is currently retesting the $449.56 support level, and buyers could make a comeback here, triggering a new impulse move.

In some cases, this uptrend could start at the $434.10 demand barrier. Either way, Binance Coin price is likely to climb 27%, shattering the $517.17 resistance barrier and make a run at the $571.32 level.

In a highly bullish case, the rally could extend up to $603.88, constituting a roughly 34% upswing.

BNB/USDT 1-day chart

BNB/USDT 1-day chart

While things seem to be going well for Binance Coin price, a $449.56 support level breakdown will indicate a potential weakness among buyers.

A decisive close below the subsequent demand barrier at $434.10 on the 1-day chart will set up a lower low and invalidate the bullish outlook. In such a case, BNB might crash to $407.83 and $378.16.

Author

Akash Girimath

Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.

More from Akash Girimath
Share:

Editor's Picks

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.