- Binance Coin price is nearing the lower end of the upward trendline, a critical support that could lead to a rebound.
- BNB could find support around $581.9, the 61.8% Fibonacci retracement from the mid-March to June move.
- A daily candlestick close below $559.6 would invalidate the bullish thesis.
Binance Coin (BNB) price stops its recent decline from its all-time high of $721.8 registered on June 6 and raises more than 4% on Wednesday. BNB is poised for a potential 14% rebound as it approaches a critical support area, known for its historical reliability in providing price support
Binance price eyes for a recovery
Binance coin reached a new all-time high (ATH) of around $722 on June 6, after which it crashed 16%.
Sideline inventors looking for a buying opportunity can accumulate BNB at $581.9, the 61.8% Fibonacci retracement level traced from the swing low of $495.4 on May 19 to the swing high of $721.8 on June 6. This level aligns with the ascending trendline, which has historically provided support on several occasions, as depicted in the chart below.
If this support holds, then BNB could rally 12% from its current trading price of $627 to tag $698.9, the lower boundary of its previous daily bearish order block area extending between $698.9 and $710.9 from June 6. A bearish order block is an area where market participants, such as institutional traders, have placed huge sell orders.
The Relative Strength Index (RSI) briefly dipped below the 50 mark, and the Awesome Oscillator (AO) appears to be following suit. If bulls are indeed making a comeback, then both indicators should remain above their respective mean levels. This scenario could provide additional support to the ongoing recovery rally.
BNB/USDT 1-day chart
However, if BNB's daily candlestick closes below $559.6, it would form a lower low in the daily time. Such a development would give rise to a bearish market structure. This change in market structure would invalidate the bullish thesis and catalyze a 12% crash in the Binance Coin price to revisit the previous support level of $495.4.
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

How will BNB price react as Binance and Kraken delist USDT for EU countries?
On Monday, Binance officially discontinued spot trading pairs involving Tether’s USDT in the European Economic Area to align with the European Union’s Markets in Crypto-Assets Regulation.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bears target sub-$80,000 BTC, ETH 2-year lows, XRP yearly bottom
Bitcoin price is hovering around $83,000 on Friday after it failed to close above the $85,000 resistance level earlier this week.

Crypto stablecoin legislation advances, but Democrats say Trump’s USD1 raises red flags
The US Congress began reviewing a Crypto Stablecoin bill on Wednesday. This comes a week after Trump-backed WLFI announced the launch of its USD1 Stablecoin pegged 1:1 to the US dollar.

Solana extends decline amid upcoming $200 million unlocks
Solana declined 3% in Friday's early Asian session, impacted by an upcoming $200 million staked SOL unlock from four whale wallets, according to Arkham Intelligence.

Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

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.