BNB Clears Multi-Year Trendline: A New Bullish Chapter Begins
Binance Coin (BNB) has broken out of a long-term resistance line that held it back for over two years. This move could mark the start of a new bullish phase in its price action.
š What Happened
On the weekly chart, BNB has closed above a descending trendline that dates back to late 2023. This breakout comes with a strong green candle and rising trading volumeāboth clear signs that buyers are stepping in, giving the move credibility.
š Why It Matters
BNB now trades above its 50-week and 100-week moving averages, which both trend upwardāa healthy sign for longer-term strength.
If the breakout holds, BNB could climb toward the $850ā$900 range, levels it last saw during midā2022 highs.
A retest of the old trendline around $700ā$720 may offer a safer opportunity to enter or add to positions.
š Short-Term Choppiness
In shorter time frames, BNB has shown mixed behavior:
The price briefly surged toward $805, then fell back to around $760, suggesting resistance still sits overhead.
Trading volume peaked during the breakout but has since cooled off, hinting that this move is driven more by short-term traders for now.
š§ What to Watch Next
Will BNB stay above the trendline? If so, upward momentum could build toward the $850ā$900 zone.
Will it retest support? A dip to the $700ā$720 trendline could validate the breakout and offer another chance to enter.
Volume behavior: Higher volume on up-days would support a stronger breakout; falling volume may signal hesitation.
Summary
BNB has taken a step forward by breaking free of a two-year ceiling. If momentum holds and support follows, it could rise toward key resistance zones near $850ā$900. For cautious traders, a retest around $700ā$720 might offer confirmation before moving higher.
