Highlights
- Binance coin price is currently at $643.76, deviating from average price trends.
- Sentiment gauges show crowd sentiment and smart money with negative readings, indicating bearish outlooks.
- Analysts suggest 50% or more retracement scenario that could target support levels previously tested in 2023 and 2024.
The market has recently entered a low momentum phase due to security concerns, geopolitical tensions, and various other reasons that have contributed to a prevailing sense of pessimism. Binance coin price (BNB) is no exception, despite being part of the top 10 projects.
Right after the November 2024 rally, expert’s expectations for 2025 were quite high.
However, both January and February have failed to meet those expectations, with February underperforming even the lackluster momentum of January.
The cause was Trump’s trade tariff threats against Canada, China, and Mexico that initially impacted the market, where several sell-offs were witnessed, and now the recent Bybit hack has further troubled investors.
As the Binance Coin price is closely tied to the Binance exchange, now concerns about security protocols, have emerged.
As a result, investors are increasingly worried about the safety of their assets, which has significantly contributed to the current low momentum surrounding the Binance Coin price.
Recently, market sentiment, reflected in various indicators, shows a clear trend of pessimism, with analysts warning of a potential decline in the Binance Coin price.
As uncertainty looms, the outlook for BNB price remains cautious, leaving many investors on the border edge. Keep reading to know more insights.
Crowd and Smart Money Sectors Show Negative Outlook
Sentiment gauges for the BNB price future trajectory have begun to show more weight in the red zone, in which both retail and institutional investors are currently in negative territory.
Per a recent post on X, a platform shared that the crowd sentiment stands at -0.48, while smart money sentiment is at -0.24 on the sentiment scale. This data suggests a broadly bearish outlook from both segments of the market.
Per the platform’s metrics, the meter shows the needle has begun tipping towards slight bearishness already among the general public, reflected in the -0.48 sentiment.
This clearly points to a cautious or pessimistic view likely influenced by recent market performance and external conditions impacting the BNB crypto ecosystem.
In contrast, the smart money sentiment at -0.24, while still negative, is less severe. With both sectors leaning towards the negative, buying pressure could diminish, leading to sideways or downward price movement in the near term as traders adopt a wait-and-see strategy.
However, if upcoming developments exceed market expectations or if macroeconomic conditions improve, sentiment could quickly turn positive, potentially driving a price rebound.
On the flip side, if negative factors persist or worsen, then the sentiment could decline further. This could even intensify sell-offs and put additional downward pressure on the Binance Coin price.
Analyst: Strong Possibility of Nearly 50% Dip in BNB Price
As per a recent X post, the BNB crypto is currently experiencing a significant deviation from its average price trajectory, with the Binance Coin price exchanging hands at $643.76.
Historically, such deviations have often been followed by a corrective phase, either through retracement or further decline. Based on the analyst’s viewpoint, if the BNB price retraces, it may target a nearly 50% retracal or more.
Per the levels shared by the analyst, the $380 level, which has served as a key support zone tested multiple times throughout 2023 and 2024. This area could act as a rebound point if the current deviation proves to be temporary and the broader market conditions stabilize.
On the other hand, if a more bearish scenario occurs then it could see BNB crypto dropping toward the $214 level, reflecting a return to the lows observed in early 2023.
This price point would be critical, as this would be the final line of defense that might attract buyers’ interest.
But there lies one more situation: should the current deviation signify a consolidation phase before a broader bullish trend, then resistance levels around $720 could be tested again. This would suggest that current prices represent a buying opportunity, especially if positive market triggers emerge to drive prices upward.
Conversely, if this deviation marks the beginning of a longer-term bearish trend, breaking below the $214 support could lead to new lows. This would force the Binance Coin price towards a downward path.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
