Binance Coin (BNB) has been on a strong upward trajectory, recently breaking through significant resistance levels like $655 and $665.
After forming a base above the $652 mark, the price started to rise, mirroring trends seen in major cryptocurrencies such as Ethereum and Bitcoin. This upward movement comes after a breakout above the 23.6% Fibonacci retracement level, signaling a recovery after a prior decline.
Currently, BNB is testing resistance near the $675 level, just under the 100-hour simple moving average. The price is also facing significant resistance at $672, close to the 50% Fibonacci retracement from the recent downtrend. If BNB manages to surpass this level, the next resistance zone lies at $677, which could propel the price further upward toward $680.
However, if BNB struggles to break above the $675 resistance, a pullback might occur, with initial support found at $665 and lower levels at $662 and $655. As of now, Binace Coin is trading at $674.29, up by 5.28% over the past day.
Overview of Binance Coin Recent Price Action
BNB’s recent price action has been bullish, with key movements supporting this upward trend. After bouncing off the $653 low, the price surged above $665, breaking a bearish trendline.
This move has bolstered market confidence, indicating that Binance Coin may be ready for further gains. However, the price has yet to clear the $675 resistance, which remains a critical point for the continuation of the upward movement.
On the 4-hour chart, a symmetrical triangle pattern is forming under the $688 zone, indicating that a breakout could happen soon. As volatility contracts, many analysts are waiting for a decisive move to confirm the next direction for the Binance Coin price.
Resistance Levels: What to Watch in BNB’s Price Movement
The $675 resistance level is one of the most important hurdles for Binance Coin in the short term. This level aligns with the 50% Fibonacci retracement and the 100-hourly moving average, both of which serve as critical points for potential price direction. A break above this resistance could signal continued bullish momentum, with Binance Coin aiming for $680 and beyond.
If Binance Coin breaks past the $675 resistance, the next key resistance zones are $677 and $680. These levels will determine whether the cryptocurrency can continue its upward movement towards the $700 range. A clear breakout above these levels would suggest that the rally could extend into higher price targets.
Support Levels: What Could Cause a Pullback?
Should BNB fail to breach the $675 resistance, it may face a pullback toward support zones. Initial support is found at $665, followed by $662, and the major support sits at $655. A drop below this level could initiate a larger decline, with the next significant support at $642. Traders will need to monitor these levels closely to assess the potential for further downward movement.
Month | Min. Price | Avg. Price | Max. Price | Potential ROI |
---|---|---|---|---|
May 2025 | $ 590.41 | $ 640.49 | $ 675.38 |
0.15%
|
Jun 2025 | $ 499.88 | $ 555.89 | $ 649.77 |
3.64%
|
Jul 2025 | $ 518.29 | $ 567.30 | $ 603.58 |
10.49%
|
Aug 2025 | $ 492.96 | $ 560.02 | $ 620.80 |
7.94%
|
Sep 2025 | $ 593.66 | $ 634.81 | $ 664.77 |
1.42%
|
Oct 2025 | $ 493.01 | $ 637.72 | $ 677.74 |
0.50%
|
Nov 2025 | $ 526.44 | $ 561.86 | $ 601.86 |
10.75%
|
Dec 2025 | $ 555.22 | $ 562.57 | $ 578.29 |
14.24%
|
The Role of Bitcoin in BNB’s Price Action
Bitcoin’s recent stability above $67,000 has contributed to positive market sentiment, benefiting cryptocurrencies like Binance Coin . Bitcoin’s performance often influences the broader market, and its relatively stable position has allowed altcoins like Binance Coin to continue their rallies without heavy selling pressure. This support from the broader market has played a crucial role in Binance Coin recent price rise.
Conclusion
Binance Coin price action over the past few days suggests that the cryptocurrency is poised for further movement, with key resistance levels like $675 and $680 determining the direction. If Binance Coin can break above these levels, it may continue its rally, with the $700 target in sight.
On the other hand, failure to surpass these resistance levels could lead to a pullback, with the $650 support zone serving as a critical test for bulls. Given the current market dynamics and Bitcoin’s stable position, BNB’s outlook remains positive, but volatility may increase in the near term.
Frequently Asked Questions (FAQ)
1- Why is the Binance Coin price rising recently?
Binance Coin’s price has surged due to a breakout above key resistance levels and broader market support from Bitcoin’s stability.
2- What is the current resistance level for BNB?
The main resistance for Binance Coin is at $675, with further hurdles around $677 and $680.
3- Where is the support for BNB if the price drops?
Key support zones for BNB are found at $665, $662, and $655, with $642 as a critical lower level.
4- How does Bitcoin influence Binance Coin’s price?
Bitcoin’s stability above $67,000 has helped boost confidence across the crypto market, benefiting Binance Coin’s recent gains.
Appendix: Glossary of Key Terms
Binance Coin (BNB): The native cryptocurrency of the Binance exchange, used for various utilities within the platform.
Resistance Level: A price point at which an asset struggles to rise above due to selling pressure.
Support Level: A price level where an asset tends to find buying interest, preventing further declines.
Fibonacci Retracement: A tool used in technical analysis to identify potential levels of support and resistance based on key Fibonacci numbers.
Symmetrical Triangle: A chart pattern that indicates a period of consolidation, followed by a potential breakout.
Simple Moving Average (SMA): An indicator that calculates the average price of an asset over a specified period, used to identify trends.
Bollinger Bands: A technical analysis tool that uses a moving average and two standard deviations to indicate price volatility.
References
NewsBTC – newsbtc.com
CoinEdition – coinedition.com