Strong demand and strategic accumulation signal potential breakout
Binance Coin (BNB) has extended its bullish momentum, climbing above the $810 mark in the latest 4-hour trading session. The asset is currently trading near $817, showing a 27% gain over recent days, as buyers target the $815–$850 resistance zone.
Over the past week, BNB has shown resilience, rebounding sharply from the $740–$755 support area, highlighted by a surge in buying volume. The chart indicates that institutional demand may be underpinning the move, with price holding steady despite brief pullbacks.
Market analyst Daniel Hayes noted, “The consistent retests of support and quick recoveries are classic signs of accumulation by larger players. If volume sustains, a clean breakout above $850 could open the door to fresh highs.”
The price action also confirms a successful breakout from a descending channel seen in June, followed by a steady rally that broke through the long-standing $670 resistance zone. Since then, this level has acted as a strong floor, suggesting market structure has shifted decisively in favor of bulls.
Short-term traders are closely watching the red resistance band between $840 and $850. A decisive close above this area could trigger momentum-based buying, while failure could lead to consolidation back toward the green support band near $740.
For now, the combination of rising volume, higher lows, and solid support levels suggests that BNB is well-positioned for a potential continuation of its uptrend. However, market participants remain cautious ahead of macroeconomic events that could influence broader crypto sentiment.
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.