Binance Coin (BNB) shows a vigorous rebound, rising 2.74% in the last 24 hours after a sustained rally, currently trading at $851.64 at 05:09 AM EDT on August 22, 2025.
This movement reflects increasing interest following the recent consolidation, fueled by notable market activity.
Technical analysis reveals a promising outlook. The data shows significant withdrawals from centralized exchanges (CEX), with balances decreasing, suggesting accumulation by investors.
A key event, such as the recent launch of a staking program by Binance, could be driving this trend. In the daily chart, BNB forms a double bottom pattern near $730, indicating a possible bullish reversal, supported by an RSI divergence suggesting increasing buying pressure.
The RSI stands at 55.06, in neutral territory with room to rise, while the MACD shows a bearish divergence with a negative histogram (-6.7615), signaling mixed momentum. Key support levels are at $718-$723, with main resistance at $861.10, aligned with 52-week highs.
The conclusion points to a bullish scenario if BNB breaks $861 with volume, projecting a target towards $900. However, a drop below $718 would invalidate the pattern, risking a pullback to $675. Traders should monitor volume and indicators to confirm the direction.
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