BNB broke out of a falling wedge, confirming a bullish reversal structure with a successful retest of the $650 support zone.
Price action remained above the 9 EMA and 50 SMA, indicating bullish momentum and structural support from buyers during the recent crypto selloff.
Bulls are eyeing a move toward the $665–$675 resistance range, a previous sell zone, if BNB maintains strength above its current support level.
BNB has shown resilience after breaking out of a falling wedge and holding above a key support zone near $650. This move comes amid broader market pressure triggered by rising tensions between Israel and Iran.
Breakout and Retest Confirm Bullish Structure
According to Alpha Crypto Signal, BNB has successfully broken out from a falling wedge pattern, which is widely regarded as a bullish reversal setup. Following the breakout, the price executed a textbook retest of the wedge's upper boundary. This zone, positioned around $650, also aligns with a key horizontal support level.
https://twitter.com/alphacryptosign/status/1933495435408388232
The reaction from this area has so far been constructive. Price action reflects increased buying interest, as bulls defended the structure and maintained the asset above both the 50 SMA and the 9 EMA. The retest phase saw active demand that helped BNB recover quickly, validating the breakout.
Momentum Maintains Bullish Bias Above Support
Alpha Crypto Signal notes that as long as BNB continues to trade above the $650 support, the bullish bias remains valid. The market saw buyers step in during the retest, confirming support strength and potential continuation toward the next resistance range.
The next significant zone to focus on is between $665 - $675, which we have previously identified as showing selling pressure. If it can hold/follow through above this zone much more specifically sustained above this area on good volume, it should have more upside potential. Again, it is crucial that it holds at support to keep momentum going in the short term.
Broader Market Context and Price Status
BNB was priced at $653.40 as of writing, recording a 1.09% increase over the past week despite a 1.38% decline in the last 24 hours. The recent dip across the crypto market has been linked to the ongoing conflict between Israel and Iran. This geopolitical tension has triggered widespread selloffs, putting pressure on digital asset valuations.
Despite this, BNB’s technical position remains stable. The structural defense around the $650 level continues to attract buyers, showing strength relative to broader market weakness. With sustained support and growing interest, BNB’s setup continues to favor potential continuation toward upper resistance ranges.
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