- Binance Coin forms higher lows with strong support near $617 while testing resistance just below $688 for a potential breakout.
- Moderate volume and persistent buying pressure keep BNB poised within an ascending triangle, signaling a bullish continuation ahead.
- BNB’s price momentum aligns with its upward trend, targeting $700–$740 next, with a longer-term range between $950 and $1,100 in sight.
Binance Coin is closing in on a major resistance level after consistently forming higher lows across multiple timeframes. Analysts remain bullish as the token builds toward a potential breakout that could test its all-time highs.
Signs of Strength on Daily Chart
Technical behavior in recent sessions suggests strong buying interest at rising support zones with persistent resistance at a key ceiling. BNB continues to compress under $688, hinting at a likely breakout if buying pressure increases. Recent price action reflects an ascending triangle setup that typically precedes strong directional moves.
Observing price behavior closely, Crypto Raven analyzed BNB’s daily structure using the USDT trading pair. According to Crypto Raven, Binance Coin has built a strong ascending trendline from the $525 region, forming clear higher lows. He identified $687.89 as a horizontal resistance that the price has repeatedly tested but not closed above.
Source: Crypto Raven
The analyst also pointed out that multiple candlestick wicks failed to breach the $687.89 zone, confirming supply pressure at that level. Volume remains moderate with no extreme spikes, suggesting balanced accumulation without aggressive distribution. Price recently hit $684.39 before pulling back to $666.56, a region near the established trendline, reinforcing technical confluence.
Crypto Raven has provided additional insights on support at $617.89, calling it a significant zone that has switched roles between resistance and support. This chart shows this level was broken in March but reclaimed in April, holding as support through May. If BNB holds this trend, Raven notes that the next leg could push the token toward $700–$740.
Higher Timeframe Structure Shows Bullish Continuation
Tracking historical price behavior, Tutor has offered a comparative analysis of BNB using the 3-day timeframe for clarity. This chart shows BNB bouncing from a low of $189 in late 2023 and forming consistent higher lows since then. The current session trades at $688.83, within reach of the next resistance near $731.73.
Source: Tutor on X
Analyzing the broader range, Tutor marked $634.26 as support and $731.73 as major resistance, defining BNB’s consolidation band. Every dip since mid-2024 has respected the dotted trendline, showing buyers’ control over downside pressure. Tutor identified a gray box between $950 and $1,100 as a possible liquidity target if the price breaks above resistance.
The analyst also pointed out that BNB remains 5.86% under resistance, with momentum building as price coils under the cap. Tutor confirmed no bearish divergence on recent moves, aligning momentum with the current trend direction. Analysts are closely watching Binance Coin’s structure as it tests major levels with a bullish continuation in sight.
