#Write2Earn BNB on the brink of price explosion
Binance Coin (BNB) is poised for a potential price breakout as it approaches the psychological and technical barrier of $700, supported by strong factors, most notably the recent token burn.
The coin is currently trading near $686, after touching $695 during today’s trading, nearing a key horizontal resistance between $685 and $700 that has formed within a 'rising triangle' pattern reflecting an upward trend since May. Breaking this barrier would serve as a strong technical signal that could pave the way for a new upward wave.
Bullish expectations have been bolstered following the announcement from the BNB Chain network about the removal of 1.59 million BNB coins from circulation, a factor that is traditionally seen as positive for increasing the value of the coin due to reduced supply.
Data has also shown a sharp rise in the number of active addresses since April, which jumped from 500,000 to over a million by June. Activity remains at high levels — between 900,000 and a million addresses — compared to only 400,000 in March.
If the price successfully breaks the $700 resistance with strong trading volume, BNB could quickly move towards the 730–745 dollar range, a historical resistance area that has seen several previous retracements. In the event of a pullback, key support levels lie between $625 and $635, followed by $615, and then dynamic support at the upward trend line near $600.