Key takeaways

• Binance’s BNB is down 4.5% in the last 24 hours and now trades below $590.
• The bearish performance comes as President Trump threatens to attack Iran’s power plants. 

BNB (formerly Binance Coin) is currently trading below $585 as of Thursday, continuing its three-week decline. 

The correction has deepened following US President Donald Trump’s statement that the ongoing US-Iran conflict could last until late April, which has dampened investor sentiment towards riskier assets. 

From a technical standpoint, momentum indicators are signaling a potential for further downside in BNB.

Trump’s remarks weigh on market sentiment

Bitcoin, Ether, BNB, and XRP are in the red after President Trump warned on Wednesday that the US-Iran war could extend until late April. He also threatened to target Iranian power plants and stated that Iran would be sent back to the “Stone Age” if an agreement is not reached.

These statements have tempered hopes for de-escalation, further reducing investor appetite for riskier assets. As a result, the US Dollar (USD) and oil prices have strengthened, while US equities and other high-risk assets have come under pressure. 

Retail interest in BNB has also declined in recent days. According to CoinGlass, BNB’s long-to-short ratio reads 0.80 on Thursday, its lowest point in a month. 

A ratio below one indicates bearish market sentiment, with traders betting on a further decline in BNB’s price.

BNB could dip to February’s low

The BNB/USD 4-hour chart is bearish and inefficient as BNB has underperformed in recent days. 

Currently, BNB is trading well below the 50-day, 100-day, and 200-day Exponential Moving Averages, which all trend higher above the current price and frame a broader bearish backdrop. 

The Relative Strength Index (RSI) on the 4-hour chart reads 42, below the neutral 50, indicating a bearish bias. The Moving Average Convergence Divergence (MACD) is also drifting deeper below the zero, signaling persistent selling pressure rather than a completed downside exhaustion.

If the bearish trend persists, BNB will retest the initial support at $570.16 (February’s low). A break below this level would open the way toward lower daily lows and deepen the corrective phase toward the key psychological level at $500.

However, if the bulls regain control of the market, they would encounter immediate resistance at $697, in line with the descending EMAs.

A sustained recovery above this barrier would be needed to ease the current bearish tone and expose the next resistance at $790.79.

Bitcoin price started a recovery wave above $90,000. BTC is now struggling to clear $92,000 and might start another decline below $90,000.

• Bitcoin started a recovery wave and climbed toward $92,000.
• The price is trading above $90,000 and the 100 hourly Simple moving average.
• There was a break below a short-term bullish trend line with support at $90,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move down if it settles below the $90,000 zone.

Bitcoin Price Faces Resistance

Bitcoin price managed to stay above the $88,500 level. BTC formed a base and recently started a recovery wave above the $90,000 resistance zone.

The pair climbed above the $91,000 level. A high was formed at $91,878 and the price is now correcting some gains. There was a break below a short-term bullish trend line with support at $90,800 on the hourly chart of the BTC/USD pair.

The pair is now approaching the 23.6% Fib retracement level of the upward move from the $86,299 swing low to the $91,878 high. Bitcoin is now trading above $90,000 and the 100 hourly Simple moving average. If the bulls remain in action, the price could attempt another increase.

Immediate resistance is near the $91,200 level. The first key resistance is near the $92,000 level. The next resistance could be $92,500. A close above the $92,500 resistance might send the price further higher. In the stated case, the price could rise and test the $93,750 resistance. Any more gains might send the price toward the $94,500 level. The next barrier for the bulls could be $95,000 and $95,500.

More Losses In BTC?

If Bitcoin fails to rise above the $92,000 resistance zone, it could start another decline. Immediate support is near the $90,500 level. The first major support is near the $89,080 level or the 50% Fib retracement level of the upward move from the $86,299 swing low to the $91,878 high.

The next support is now near the $88,450 zone. Any more losses might send the price toward the $87,500 support in the near term. The main support sits at $86,300, below which BTC might accelerate lower in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $89,080, followed by $88,450.

Major Resistance Levels – $91,200 and $92,000.

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Ethereum has entered a volatile phase after breaking its 2021 all-time highs last week, sparking both excitement and caution across the market. After the surge, ETH retraced and tested critical demand levels, where buyers stepped in to defend support. Bulls are showing resilience, with analysts pointing to the possibility of Ethereum rallying past $5,000 in the near term.

Still, the risks of a deeper correction weigh heavily, fueling uncertainty among traders and investors. Fear is beginning to creep into sentiment, as some wonder if Ethereum’s rally is sustainable or if another pullback is on the horizon.

Yet in this environment, one undeniable trend stands out: whales are accumulating. Arkham Intelligence revealed that nine whale addresses collectively purchased around $450 million worth of Ethereum yesterday alone, signaling confidence from the largest market participants. This wave of accumulation highlights how deep-pocketed investors are taking advantage of retracements, potentially preparing for the next leg upward.

Ethereum Whales Signal Confidence

According to Arkham Intelligence, Ethereum whales are making decisive moves that could shape the next phase of the market. Data shows that nine massive addresses collectively purchased $456.8 million worth of ETH in a single day. Out of these, five wallets received inflows directly from Bitgo, a leading institutional custodian, while the other four acquired their positions through Galaxy Digital’s over-the-counter (OTC) desk. These transactions reflect not only individual whale confidence but also the growing role of institutional-grade platforms in facilitating large-scale Ethereum accumulation.

This surge in whale activity highlights a critical market dynamic: deep-pocketed investors are positioning themselves for what could be the next leg higher in Ethereum’s price cycle. Historically, whale accumulation during periods of volatility has preceded significant upward momentum, providing a strong foundation for bullish narratives. With ETH already testing crucial demand zones after its breakout above 2021 all-time highs, these inflows may help stabilize price action and build momentum toward uncharted territory.

Beyond whales, public companies are also entering the picture. Firms like Bitmine and Sharplink Gaming have recently disclosed Ethereum positions, further validating ETH’s role as an institutional-grade asset. Their involvement echoes what Bitcoin experienced in its early corporate adoption phase—when public companies added BTC to their balance sheets, fueling strong market confidence.

Taken together, the combination of whale accumulation, institutional OTC purchases, and public company adoption paints a clear picture: confidence in Ethereum’s long-term trajectory is strengthening. While short-term risks remain, these trends reinforce a bullish case for ETH to move toward price discovery and potentially surpass $5,000. The market is watching closely, but whales and institutions appear to be leading the charge.

Ethereum Holds Ground as Bulls Eye $5,000

Ethereum is trading around $4,592 after rebounding from a sharp retrace off local highs near $4,850. The 4-hour chart shows ETH regaining strength above the 50-day and 100-day moving averages, signaling that buyers are stepping back in to defend key levels. This move restores confidence in the short-term uptrend, even as volatility keeps traders on edge.

The broader picture remains supportive. With the 200-day moving average sitting at $4,119, Ethereum has a comfortable cushion that highlights its resilience despite recent swings. Holding above the faster averages not only stabilizes momentum but also sets the stage for another attempt at resistance. The critical barrier ahead lies at $4,800, where sellers previously capped the rally. A decisive break could clear the path toward $5,000, a milestone that analysts believe would fuel fresh enthusiasm and potentially kickstart a new leg of price discovery.

Still, risks of another pullback linger. A drop below $4,400 could send ETH back toward the $4,200 demand zone, where prior buying pressure emerged. For now, though, sentiment leans cautiously bullish. Whales continue to accumulate, technicals remain constructive, and Ethereum appears poised to test higher levels if momentum carries through.

Featured image from Dall-E, chart from TradingView

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