BNB exceeded the resistance of $861 on Thursday, but the bulls could not take advantage of the breakout.
The failure to maintain the price above $861 may have tempted short-term buyers to take profits. This has pushed the price towards the 20-day EMA ($794). If the price strongly rebounds from the 20-day EMA, the bulls will try to push the BNB/USDT pair above $869. The price of BNB could then spike to $900 and subsequently to the psychological level of $1,000.
On the contrary, a breakout and close below the 20-day EMA could sink the pair down to the solid support of $732. This is a critical level to watch, as a close below $732 indicates a possible double top pattern.
