BNB price surges over 40% in recent weeks, approaching major resistance with bullish momentum.
Binance Coin (BNB) has staged a remarkable rally, climbing from lows near $680 in late July to test the critical $870 resistance zone. This surge represents a gain of more than 40% in just over two weeks, fueled by increased buying interest and broader market optimism. However, technical indicators now suggest that the next move will depend heavily on whether bulls can break through the current resistance or face a corrective pullback.
The 4-hour chart reveals a breakout from a descending channel in late June, followed by a sustained uptrend. BNB first cleared the $680 supply zone in mid-July, flipping it into support before accelerating upward.
Currently, price action is pressing against a red-marked resistance zone around $865–$870, a level that has historically acted as a supply barrier. Trading volume has remained elevated, signaling strong market participation. Below, a green support area around $740–$760 has emerged as the key defense for bulls.
“BNB is showing strong follow-through buying, but this resistance is a significant test. A breakout with volume could open the path to new highs above $900,”According to BITX market analyst. “However, failure here might see a healthy retracement back toward the $740 region.”
Market Sentiment and Next Steps
Market sentiment remains cautiously optimistic. A decisive daily close above $870 could trigger momentum-driven buying, potentially targeting the $900–$920 range in the short term. On the flip side, rejection from this level could lead to profit-taking and consolidation between $740 and $870.
BNB’s recent performance underscores its resilience and strong investor interest. As the coin sits at a make-or-break resistance zone, the coming days will be crucial in determining whether the current rally has more room to run or if a short-term cooldown is ahead.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.