Binance Coin (BNB) Price Analysis for February 5
Analysis
Price Impact
HighBnb has dropped by 7.79% in the last 24 hours, breaking local support at $672.70. further declines are anticipated towards $650 and potentially $600, indicating strong bearish momentum.
Trustworthiness
MedThe analysis uses technical chart patterns (hourly, daily, weekly) and current price action, which are standard for market analysis, but it's a news article and not direct financial advice.
Price Direction
BearishAll charts (hourly, daily, weekly) indicate continued selling pressure with no reversal signals. the price is expected to test $650 soon and could drop to the $600 area over the next few days.
Time Effect
ShortThe predicted movements to $650 are 'soon' and to $600 are 'over the next few days' or by 'mid-january' (likely meant mid-february), indicating immediate to short-term effects.
Original Article:
Article Content:
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The market keeps going down today, according to CoinMarketCap . Advertisement Top coins by CoinMarketCap BNB/USD The rate of Binance Coin (BNB) has dropped by 7.79% over the last 24 hours. Image by TradingView On the hourly chart, the price of BNB is falling after a breakout of the local support at $672.70. If sellers' pressure continues and the daily bar closes far from that mark, one can expect a test of the $650 zone soon. Image by TradingView On the longer time frame, there are no reversal signals yet. You Might Also Like Wed, 02/04/2026 - 15:45 XRP Price Analysis for February 4 By Denys Serhiichuk If the daily candle closes around the current prices or below them, the decline may lead to a test of the $600 area over the next few days. Image by TradingView A similar picture can be seen on the weekly chart. As bears keep controlling the situation on the market, traders may witness a further drop to the $600 range by mid-January. BNB is trading at $665.55 at press time. #Binance coin price prediction