Momentum is building, but is it sustainable?
Overview
Between July 28 and July 31, BNB delivered a sharp, technically significant move — rallying from the $732 support zone to briefly tagging the $812 level, before settling into consolidation. This 10.9% rally, spread over four sessions, has reignited bullish sentiment around BNB’s mid-term trajectory, positioning it for potential price discovery if volume and structure hold.
Let’s break down the key technical dynamics behind this move and what the charts are suggesting next.
Price Action Recap: July 28 – July 31
➡ July 28:
BNB breaks above the psychological resistance of $750, invalidating the prior local high set on July 23. The daily candle closes strong, with above-average volume and a long-bodied bullish bar — a textbook breakout candle. RSI on the daily closes near 66, indicating momentum without full overextension.
➡ July 29:
Price surges past $780, tagging $798 intraday, but closes with a small upper wick — suggesting initial profit-taking. However, the close above $770 is still bullish. Volume remains elevated, confirming demand behind the move.
➡ July 30:
Price attempts a breakout above $800, reaching a high of $812, but fails to hold. This day forms a spinning top on the daily — a warning of hesitation, not yet reversal. RSI enters overbought territory (above 70) for the first time since mid-June.
➡ July 31:
BNB pulls back slightly, forming a small-bodied doji, closing around $791. This reflects a temporary supply zone near $810–$815, which aligns with the March 2024 high. Volume drops, indicating traders are waiting for confirmation before committing to further upside.
Key Technical Zones
Support Levels:
$750–$732: Strong demand area, previously resistance, now turned support after clean breakout.
$705 (EMA 50): Mid-range dynamic support. Breakdown below this would invalidate current bullish bias.
Resistance Levels:
$812–$820: Multi-month horizontal resistance; multiple failed breakouts in the past.
$880–$910: Measured move target based on breakout from April–July consolidation range.
$1,100 (macro target): Fibonacci 1.618 extension from the March low.
Indicators & Market Structure
RSI (Daily): Currently hovering around 70. This is the "edge of euphoria" — bullish but vulnerable to sharp corrections if volume fades.
MACD (Daily): Bullish crossover confirmed on July 26, with widening histogram. Suggests momentum is still building.
Volume: Highest 3-day volume cluster since April 2025. Breakout has institutional characteristics.
Structure: BNB is trading within a clean ascending channel, with higher highs and higher lows since early July.
Interpretation: Bullish, But Watch the Fuel
The 4-day rally reflects not just momentum, but structural strength: BNB has broken out from a 3-month consolidation range and flipped resistance into support. The breakout wasn’t driven by one oversized candle, but by consistent, controlled bullish closes, which suggests accumulation rather than hype.
That said, the $812–$820 zone remains key. Failure to close above this area in the next 48 hours could lead to a healthy retracement toward $750–$765 — a move that wouldn’t negate the broader bullish thesis, but may shake out weak hands.
A decisive daily close above $820 with volume would likely trigger another leg up, with $880 and $910 as primary technical targets in August.
TL;DR – BNB Technical Summary (As of July 31, 2025)
✅ Breakout confirmed above $750
🔥 Momentum strong, volume real
🧱 Resistance at $812–820 is a battleground
📉 Short-term pullback possible if bulls fail to reclaim $815
📈 Break above $820 opens road to $880–910
🧠 Structure still favors trend continuation unless $732 is lost
Final Word
BNB’s recent price action is a lesson in patient strength. This wasn’t a meme-driven moonshot — it was a structured, technically sound breakout that now demands validation. If the broader market cooperates and Binance Chain fundamentals remain firm, BNB may be quietly staging its next all-time high attempt.
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