BNB – Local markers of the Binance ecosystem and BNB chains have seen significant resilience and growth in recent weeks. As of early May 2025, BNB traded at about $580 to $600, hovering below the main psychological $600, which is resistive.
The broader crypto market has a strong background: Bitcoin is approaching its all-time high (about $94,000) starting in May, reflecting strong liquidity and positive sentiment in digital assets.
Technical Analysis: Chart Patterns and Indicators
Over the past few days, BNB’s price action has been restricted in consolidation of the merger. The triangle pattern on the daily chart indicates that romantic squeezes are usually significantly broken before.
Currently, BNB is facing immediate resistance of $593-600, an area it has been working hard to break decisively.
Source: TradingView
The confirmation of the push can open the door to higher goals. In fact, analysts mentioned the $617 upward target target (BNB tried to violate it in March) and even if Bullish Momentum accelerates, even $644.
On the downside, support levels to focus on include around $575-580 (convened during the recent pullback), followed by increased sales, with deeper support at around $559 and $542.
The relative intensity index (RSI) on the daily time frame was in the high 50s (58 as of May 5, 2025), which was below the threshold that was too high and implying a further upside before the stretching condition was reached. This bullish crossover coincides with the observation that BNB’s price trades on the short-term moving average, thus enhancing the short-term uptrend.
Over the past 24 hours (as of May 5), BNB’s spot trading volume was about 35-40%, reaching $680 million, a significant increase from the previous day. The increase in the amount of price range tightening usually indicates that the breakthrough is brewing as participants are increasingly positioned.
All in all, technical analysis shows that BNB is at a critical point – a sustained disruption that lasts about $600 may inspire sharp rally, and failure to do so may result in a callback in the mid-500s to enhance support.
Chain indicators
Recent on-chain activity also demonstrates strong network usage and accumulation for large holders. User engagement in BNB chains surged – Daily event addresses jumped 18%, with daily addresses about 1.1 million as of May 5, 2025.
This rise shows that more and more users are trading on the BNB chain, which is a positive signal of the vitality of the ecosystem. Additionally, the number of large deals has increased: data on the chain shows that whale-sized transfers (valued over $100,000) have increased by 22% over the past week, suggesting a rise in accumulation for big players.
In fact, sentiment trackers point out that buying from whales is increasing, reflecting a strong interest in BNBs for large holders.
Another key metric is exchange flow. There has been obvious evidence of BNB turning to communication over the past few days: in the 48 hours of early May, about 500,000 BNBs (net) flowed into the Binance Exchange wallet.
Source: Arkham
This can be explained in two ways. On the one hand, traders may deposit BNB into BNB in the expected breakthrough, selling at a higher level or using BNB as collateral for trading – an influx that is often seen before the big volatility.
On the other hand, if these coins are moved into and sold, exchange inflows may be a bearish indicator and may increase immediate sales pressure.
BNB ecosystem catalyst
One of the most important developments in recent times is Vaneck’s application for US ETFs based on BNB. On May 5, it was revealed that Vaneck had officially submitted the S-1 document to the SEC to launch the first place in the BNB exchange-traded fund.
If approved, it would be a historic – a regulated fund that provides direct exposure to BNB prices, allowing traditional investors to gain exposure without managing crypto wallets. It shows that BNB is entering mainstream investor radar, and if the product is launched later, it could pave the way for massive inflows.
Source: Second
Additionally, Binance continues to launch new token launches to take advantage of BNBs, such as Launchpad/Launchpool. Historically, Accoridng, arriving at Blockhead, was the main Binance Launchpad sales and launch pool, which led to a temporary increase in BNB prices as users must hold BNB in order to participate in token products.
For example, in April 2024, the introduction of Saga and Omni Network on Binance Launchpool brought BNB’s price to $635, outperforming the broader cryptocurrency market’s return of 1.75%.
Additionally, over the two-week period in early 2024, BNB’s price surged by more than 75%, climbing from $349 to more than $600, consistent with increased activity and expectations for the new launch pool project.
BNB price forecast
BNB can crawl in viable $620 – $650 Range In the next 1-4 weeks. This will represent a decisive move beyond its recent range, which may be a price level not seen since the beginning of 2022.
If the main bullish factors remain consistent, including technological breakthroughs, strong market rally and positive news, buyers can raise BNB to above $650. It is also worth noting that BNB has been around $600 from its all-time high in the previous cycle.
If euphoric starts joy, a short-term break towards that level (about $670) is not impossible, although our basic bullish target will be more conservative, focusing on the mid-term of $600. Traders should be aware of whether BNB will turn $600 support to support; if so, the path with minimal resistance in the short term may rise up.
in conclusion
BNB may trade for as low as $600 in the coming weeks and tend toward an upward drift bias, assuming that the cryptocurrency market is still healthy. A breakout of over $620 can increase the coin to the new range.
As always, in cryptocurrencies, volatility is the norm – so risk management is crucial. However, given the current landscape, BNB holders have reason to remain optimistic but alert, as the short-term fate of the coin will be shaped by the interaction of the forces discussed above.
Read more: Bitcoin and XRP Volatility: How much can they move when they sell in May?
