BNB Price Prediction: Will Binance Coin (BNB) Price Break $600 Resistance Today?

In the last 24 hours, the price of BNB is attempting to meet buyers' demand as it surged toward $584, currently flashing 1.16% gain. Though buyers are attempting to send the price above immediate Fib level, sellers are strongly defending the $600-$620 level.

BNB price showed signs of recovery on Monday as buyers attempted to push the price above an immediate Fibonacci level. However, sellers were defending a crucial resistance zone. Despite this, BNB’s trading volume surged by 22.2%.

Here’s a closer look at the key takeaways, recent price action, and technical analysis for BNB.

BNB Price Analysis for Monday: Key Takeaways

BNB price was attempting to meet buyers’ demand on Monday as it surged toward $584, currently flashing a 1.16% gain.

However, BNB price faced resistance at the $600-$620 level as sellers were defending the zone.

On the other hand, BNB’s trading volume has surged by 22.2% in the past 24 hours, reaching $1.77 billion.

Moreover, BNB price is currently trading at $585 with a 1.5% increase.

Binance Coin Price Chart – BNB/USDT 4 Hour Chart

BNB price showed signs of recovery on Monday as buyers attempted to push the price above an immediate Fibonacci level. However, sellers were defending a crucial resistance zone. Despite this, BNB’s trading volume surged by 22.2%.

BNB price showed signs of recovery on Monday as buyers attempted to push the price above an immediate Fibonacci level. However, sellers were defending a crucial resistance zone. Despite this, BNB’s trading volume surged by 22.2%.

After a morning low of $580, BNB price began to surge higher following a morning consolidation phase. The price quickly moved past the Fib 23.6% retracement level at $579 and the Fib 38.2% retracement level at $582.

BNB price then continued to surge higher, reaching a high of $585. However, the price faced resistance at the Fib 50% retracement level at $586 and the Fib 61.8% retracement level at $589. BNB price then began to pull back from the resistance levels.

Later in the afternoon, BNB price was attempting to meet buyers’ demand as it surged toward $584, currently flashing a 1.16% gain. However, BNB price faced resistance at the $600-$620 level as sellers were defending the zone.

On the other hand, BNB’s trading volume has surged by 22.2% in the past 24 hours, reaching $1.77 billion. Moreover, BNB price is currently trading at $585 with a 1.5% increase.

BNB Price Analysis: What to Expect Next?

Short-term: According to BlockchainReporter, BNB price might continue to struggle below $600. If the price moves above that level, we might see a trade around $620. On the downside, $560 is the range.

Long-term: According to the Binance Coin price prediction on Coincodex, the price of Binance Coin is expected to increase by 27.33% and reach $735.54 by March 9, 2025. Technical indicators suggest a bearish current sentiment, and the Fear & Greed Index indicates a level of 49, classified as Neutral. Over the past 30 days, Binance Coin has experienced 14 green days out of 30, with a price volatility of 5.88%. Based on this forecast, it is currently considered a bad time to buy Binance Coin.