- Binance Coin price shows a rangebound setup, hinting at a minor uptrend.
- Investors can expect BNB to rally at least 15% to collect the buy-stop liquidity above $432.
- A daily candlestick close below the range low at $336 will invalidate the bullish thesis for BNB.
Binance Coin price is hovering inside range awaiting the incentives to push higher. A quick bounce off the immediate support level could provide the oomph to move higher and collect liquidity resting above equal highs.
Binance Coin price at inflection point
Binance Coin price is stuck trading inside a range that extends from $336 to $448 since it was first formed in late January and early February. Rangebound price action is simple to trade for obvious reasons - the ceilings and support levels are well established and the price often sticks to the range.
Usually, the asset sweeps one side of the range to collect liquidity, which is followed by a quick recovery and a sweep of the opposite range. This price action could either continue or the asset establishes directional bias and trends in the winning direction.
For Binance Coin price, the range low at $336 was first swept on February 25, which triggered a 42% rally that moved above the range high at $448. Due to the brittle nature of the market and brutal volatility, BNB has dropped 19% and is currently dipping into the $359 to $377 demand zone.
A bounce off this barrier is likely to trigger a 15% upswing with buy-stop liquidity targets above the equal highs at $413 and $432, respectively. In some cases, the uptrend could extend all the way to the range high at $446.
This move would constitute an 18% upswing and is likely where the upside is capped for the short-term duration.
BNB/USDT 1-day chart
A daily candlestick close below the range low at $336 will invalidate the bullish thesis for Binance Coin price by producing a lower low. In such a case, BNB could crash 5% to retest the $319 support level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Week survives scare as House members scramble to advance procedural motion in a 217–212 vote
House Republicans scrambled to win over holdouts on Wednesday to pass a procedural motion for several crypto bills by a vote of 217–212. The longest House vote in history, which lasted nearly ten hours, will see the GENIUS and CLARITY bills head to the floor for final passage deliberations on Thursday.
Chainlink stabilizes as Westpac and Imperium Markets adopt LINK in Project Acacia
Chainlink (LINK) price is stabilizing at around $16.47 on Thursday after rallying 5% so far this week. LINK announced on Thursday that major institutions, including Westpac Institutional Bank and Imperium Markets, will integrate Chainlink in Project Acacia, thereby boosting institutional use cases.
Top Crypto Gainers: Solana-based meme coins FLOKI, BONK post double-digit gains, CRV targets $1
Solana-based meme coins Floki (FLOKI) and Bonk (BONK) edged lower by 2% at press time on Thursday, following the 30% gains on Wednesday, ranking as top crypto gainers in the last 24 hours. Curve DAO (CRV) ranks third with a 21% surge following a triangle setup breakout, targeting the $1 psychological level.
TRX rises 3% as SRM Entertainment rebrands to Tron Inc
TRON (TRX) gained 3% on Wednesday following Nasdaq-listed SRM Entertainment's (SRM) announcement of its rebrand to Tron Inc. as part of its shift to a TRX treasury strategy.
Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates. The surge in BTC was supported by rising corporate and institutional demand, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.