As of #February 3, 2025, Binance Coin ($BNB ) is trading at $596.82, reflecting a 4.27% decrease from the previous close. The day's trading range spanned from a low of $521.81 to a high of $629.17.

In recent weeks, BNB has exhibited a trading range between $242 and $261. A critical support level is identified at $234; a decline below this threshold could lead to further depreciation, with subsequent support around $219. Conversely, resistance is observed at $266, and surpassing this level may trigger a #bullish trend, targeting resistances at $286 and $301.

On the weekly timeframe, $BNB /#USDT has formed an inverted head and shoulders pattern, with the neckline around $600-$620. The recent breakout above this neckline led to a surge, reaching highs near $800 before a slight pullback to approximately $726.93. The neckline area is now anticipated to serve as strong support in the event of a price #retracement .

Given the current market dynamics, traders are advised to exercise caution. Monitoring key support and resistance levels is crucial for making informed decisions. Staying updated with market trends and employing risk management strategies will aid in navigating the $BNB /#USDT pair's movements in the upcoming week.