As of January 22, 2025, Binance Coin (BNB) is trading at $702.17, reflecting a slight increase of 0.03087% from the previous close.
Recent price movements indicate that BNB has established strong support around the $675 level, with buyers actively defending this zone. A break above the bearish trend line at $695 on the hourly charts suggests diminishing selling pressure and potential for further gains.
Technical indicators point to immediate resistance at $710, aligning with the 50% Fibonacci retracement level of the recent downward move. Surpassing this could pave the way toward the $725 and $740 levels. Conversely, key support levels to monitor are $685 and $675; falling below these could lead to a decline toward $650.
Overall, BNB's price action suggests a cautiously optimistic outlook, with the potential for upward movement if it maintains support above $675 and breaks through the $710 resistance.
