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The BNB price soared 13% in the last 24 hours to trade at $716.98 as of 11:19 p.m. EST on trading volume that rose 106% to $3 billion.
BNB Price Bullish Momentum Resurfaces After Major Rebound
The BNB price chart analysis shows that the asset has displayed strong bullish momentum after a recent recovery from a key support level.
Observing the price action, the chart shows that BNB had been trading within an ascending channel before experiencing a sharp decline, which briefly broke below the 200-day Simple Moving Average (SMA).
However, the price of BNB found support around the $560 level and has since rebounded sharply back to the consolidation phase, reclaiming both the 200-day and 50-day SMAs, according to GeckoTerminal data.
The Binance Coin price is currently trading slightly below the resistance zone around $733, which previously acted as a supply area where sellers emerged. A breakout above this level could signal further upside movement.
Meanwhile, the Relative Strength Index (RSI) is currently at 65.36, nearing overbought territory but still below the critical 70 level. This suggests that while bullish momentum is strong, there is still room for further upward movement before reaching extreme levels.
The blue Moving Average Convergence Divergence (MACD) line at12.27 has crossed above the orange signal line at -5.01, forming a bullish crossover. This confirms the growing upward momentum and aligns with the recent price surge.
The MACD histogram also shows increasing bullish momentum, further supporting the possibility of a continued rally.
Binance Coin Aims For A Continued Rally
Given the strong recovery above key support levels, the reclaiming of the 50-day and 200-day SMAs, and the bullish signals from the RSI and MACD, the BNB price is currently positioned for a potential breakout above $720.
If this level is successfully breached, the next target would be around $760–$780, where previous resistance exists.
However, if the Binance Coin price fails to hold above the $675 support level, a short-term pullback towards the $640–$650 range could occur before another attempt to push higher.
The key level to watch is the $720 resistance, as a breakout would confirm a continuation of the bullish trend.
In the meantime, investors are flocking to the presale for Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says is one of the best crypto wallets for 2025.
Web3 Wallet Best Wallet Races Past $9.7M In Presale—Next Crypto To Explode?
Top Web3 wallet Best Wallet is racing toward the $10 million mark in total funds raised as it continues to garner traction in the crypto space.
Lauded for its functionality and suitability for today’s market landscape, the non-custodial wallet recently reached over 500,000 total users, with more than 250,000 monthly active users.
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Best Wallet is quickly gaining traction and is now competing with popular wallets like Trust Wallet and MetaMask, with the potential to outpace them due to its unique array of features.
A key feature that sets Best Wallet apart is its “Upcoming Tokens” section, a presale aggregator that identifies high-potential projects.
The project’s success in identifying promising projects is clear. It has already flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
Currently, BEST tokens are priced at $0.023975. BEST tokens can also be staked for a huge 171% annual return.
Buy BEST tokens here before the next presale price hike in 36 hours.
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