BNB on the Brink of Price Explosion:

Breaking the $700 Barrier Looms Amid Massive Burn and Rising Momentum

Binance Coin (BNB) is preparing for a potential price breakout as it nears the psychological and technical barrier of $700, supported by strong factors, notably the recent token burn and a significant increase in network activity.

The coin is currently trading near $686, after touching $695 during today's trading, approaching a major horizontal resistance between $685 and $700 formed within an "ascending triangle" pattern reflecting an upward trend since May. Breaking this barrier is considered a strong technical signal that could pave the way for a new upward wave.

The bullish expectations were reinforced after the BNB Chain network announced the completion of the 32nd quarterly token burn, which resulted in the removal of 1.59 million BNB coins from the circulating supply, a factor traditionally seen as positive for increasing the coin's value due to reduced supply.

Data from "Glassnode" also showed a sharp rise in the number of active addresses since April, jumping from 500,000 to over a million by June.

If the price successfully breaks the resistance at $700 with strong trading volume, BNB could quickly head towards the $730–745 area, which is a historical resistance zone that has seen several previous bounces. In case of a pullback, the main support levels lie between $625 and $635, followed by $615, and then dynamic support at the upward trend line near $600.