BNB Flips Solana's Market Cap During Retrace—$700 Breakout?

BNB led today's market retrace with a 9% gain and eclipsed Solana after flipping its market cap. BNB's breakout may try to recoup $700 and reach new highs, say experts.

On Wednesday, Bitcoin (BTC) hit a one-week low of $94,000. Most top-10 cryptocurrencies fell.

BNB, formerly Binance Coin, rose to $689, a 12-day high, today. The cryptocurrency had a solid Q4 2024 after regaining $700 resistance and reached $750 in December.

The start-of-year retraces stalled BNB's progress, bringing the cryptocurrency below $700 on Inauguration Day to $680-$660.

The cryptocurrency fell to its lowest value since September after the DeepSeek downturn. BNB dropped below $500, causing market uncertainty.

Since then, the cryptocurrency has risen 34% from recent lows, reclaiming major support zones. For the first time in 12 days, the token rose 9%, retesting $660 and $670 resistance zones.

The only cryptocurrency in the top 10 by market capitalization (MC) to increase Wednesday morning was BNB. After reaching $96 billion, the cryptocurrency overtook Solana as the fifth-largest by market value.

BNB has handled 68.3 million transactions in the previous 30 days, making it the top EVM chain, according to Lookonchain.

Breakthrough to $700 Soon?

Crypto expert said BNB might make a big move as it neared a major barrier zone between $660 and $680.

The essay states that the cryptocurrency faces “multiple technical hurdles” in this zone, including the 200, 100, and 50 Simple Moving Averages (SMA), the 0.382 Fibonacci retracement, the TD Sequential resistance trendline, and the danger line.

Analysts say breaching these levels might “signal the next major move.” Meanwhile, expert Elja Boom indicated BNB may pursue its 2021 strategy.

The expert said that the cryptocurrency is following the same breakout structure and trajectory as four years ago, suggesting a probable leap to new highs.

#BNBChainMeme #BNB #CryptoLovePoems #TraderProfile $BTC $ETH $BNB #TraderProfile #BNBChainMeme #zkLendCryptoHeist