HomePrice PredictionsBNBBNB Squeezes Near $600: Will the $642 Barrier Finally Crack?

BNB Squeezes Near $600: Will the $642 Barrier Finally Crack?

Date:

BNB Technical Analysis: 30 APR 2025

Alt Coin Beacon - BNBUSDT_2025-04-30_16-11-02

BNB is inside a descending triangle pattern. Source: TradingView

General View 

BNB has seen a steady recovery in recent weeks, gradually pushing higher and reclaiming the $600 psychological level. Price has recently been holding off the ascending trendline, however, the momentum is now signalling a slowdown. On the lower timeframes, price appears to be forming a descending triangle, a typically bearish setup that may pressure the current uptrend if buyers lose further momentum. For now, the bias remains cautiously optimistic, but a breakout is needed soon to avoid downside risk.

On The Upside

If bulls maintain support at the rising trendline and reclaim the $618 mark, momentum could quickly accelerate toward $630 to $642. However, we have seen that BNB has continuously been getting rejections from that $618 level. Unless that breaks, any further upside looks limited.

On The Downside 

Failure to break $618 and a loss of the ascending trendline at $597 would be a negative development for the session. This would likely drag BNB further lower towards $580 and potentially $565. Additionally, at $597, there is support from EMA-50 as well, which has been holding the trend for some time now.

Alt Coin Beacon - BNBUSDT_2025-04-30_16-09-16

Price continues to struggle off the intra-day resistance level. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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