Bulls eye $900 resistance as support zones strengthen
Binance Coin (BNB/USDT) is trading at $867.91, holding steady after an extended rally that began in July. The token has posted a 33% gain in recent weeks, consolidating just below the critical resistance zone near $900.
The chart highlights a strong base formation after BNB broke out of a descending wedge pattern in June, sparking bullish momentum. Since then, price action has respected key levels, with support zones established at $810, $750, and $680.
Currently, the immediate hurdle lies at $880–$900, where sellers have consistently capped upside moves. A decisive breakout above this range could pave the way toward $950–$1,000, opening the door to new highs for the year.
“BNB’s structure remains bullish as long as it holds above $810. A close above $900 would be the trigger for further expansion, but repeated rejections could force consolidation back toward $750.”
BNB’s rise was supported by strong volume inflows, particularly during August, when the token rallied from $720 to $880 in a sharp move. However, current trading sessions show moderating volumes, indicating a phase of accumulation or indecision among traders.
According to BITX analyst, “The reduction in volume signals caution, but the fact that BNB is not breaking down suggests accumulation. This kind of pattern often precedes a breakout when momentum returns.”
For now, the $810–$820 support is the key line in the sand. Maintaining this level allows bulls to stay in control and attempt another test of the $880–$900 ceiling. A failure to hold support could invite deeper corrections, with $750 as the next safety net.
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.