BNB Price Analysis of March 14, 2025: BNB Drops from $614 to $571, Will BNB Hold Its Support Level or Break Down Further?

Are you tracking BNB and wondering why the strong BNB uptrend has now entered a consolidation phase? Then you are at the right place. As we go through BNB price analysis, we will explore different patterns and how BNB reacted to them. We will also examine RSI and MACD indicators for the BNB price trend. We will determine the potential support and resistance of the BNB price today. Without any further delay, let’s dive into BNB price analysis and determine where BNB price might trade today.

BNB Price Analysis of the Last 24 Hours

At 03:15 UTC on 13th March, the price of BNB broke out to the upside from an expanding triangle, corroborated by a death cross of MACD. The price spiked to the upside and formed another minor expanding triangle. In the meantime, RSI indicated an overbought market condition. The minor expanding triangle broke to the downside at 05:10 UTC, corroborated by a death cross of MACD. The price moved to the downside, marking $574, and another expanding triangle appeared in the price.

Chart 1: Analysed by vallijat007, published on TradingView, March 14, 2025

This expanding triangle also failed to break the resistance level of $582 and broke to the downside at 08:25 UTC, supported by a death cross of MACD. Another converging triangle appeared in the price, which also failed to break out to the upside from the developed resistance level. A spike appeared in the BNB price, which broke the resistance level of $582, but as clearly visible in the price chart, the price moved too much of an area in a very short amount of time, indicating exhaustion of buyers, and the breakout soon failed. 

BNB Struggles to Break Support Amid Failed Breakouts

In the meantime, RSI moved above the level of 70, indicating an overbought market condition. After marking the high of $614, the price of BNB moved to the downside and developed a support level at $571. An expanding triangle appeared just above the support level, which attempted to break out to the upside but failed and gave birth to a horizontal range. 

The range broke to the downside, supported by a death cross of MACD, but failed to break the support level of $571. Another expanding triangle appeared in the price, which again attempted to break to the downside at 03:05 UTC, but this breakout also failed as the price moved to the upside at 05:00 UTC. The upside trendline broke to the downside in another attempt to break the support level.

BNB Consolidates Amid Market Uncertainty, Awaiting Breakout

The BNB price today is clearly consolidating within support and resistance levels. If BNB breaks the support level, then BNB may show some bearish momentum. If the recent breakout failure leads to another upside move, it may mark another high in the ongoing uptrend. BTC is currently under selling pressure, which affects the entire crypto market, and BNB is not left behind. If Bitcoin shows some bullish momentum, then BNB might continue its new uptrend. Traders and investors are encouraged to take a look at the BNB price chart themselves, as the crypto market is subject to potential risk.

The post BNB Price Analysis of March 14, 2025: BNB Drops from $614 to $571, Will BNB Hold Its Support Level or Break Down Further? appeared first on Coinfomania.