Under pressure, Binance Coin (BNB) has fallen below the $600 mark as the broader crypto market faces heightened volatility. Investors are closely watching a key support zone that previously triggered a strong rebound.
On March 4 (UTC), BNB dipped back to $560—an essential support level last tested in early February. Back then, bulls defended the area, pushing BNB to a peak of $721. Now, with similar price action unfolding, the big question is: Can BNB bounce back again?
Signs of recovery are emerging. In the past 24 hours, BNB has climbed 6.5%, now trading just below $600—an important psychological level. This aligns with broader market momentum, as the total crypto market cap surged 4.5% overnight to $3.03 trillion.
BNB continues to follow Bitcoin's lead. BTC jumped 6.1% in the past day, now trading at $88,665, though it remains far from its projected 2025 target of $160,000. Former Binance CEO CZ urged the community to stay optimistic amid ongoing market fluctuations.
It’s still uncertain whether BNB has fully stabilized. The recent surge in crypto prices was largely fueled by U.S. President Trump’s announcement of a strategic crypto reserve, which includes Bitcoin, Ethereum, Solana, XRP, and Cardano.
However, if negative sentiment returns, BNB risks falling below $560 again. The February rally failed to establish a new high, and a lower low is still possible. In a bearish scenario, the next key downside targets are $534 and $464, both of which served as critical support zones between July and November 2024.$BNB
