Signs of a breakout are emerging, and it is expected to continue rising in the short term.

After forming a bottom near $642, the price of BNB has entered a new round of rebound, currently moving in sync with Ethereum and Bitcoin.

The price has successfully broken through the resistance zones of $650 and $655, and has stabilized above the 100-hour simple moving average (SMA), with technical indicators showing positive signals.

During the pullback from the recent high of $671 to $642, BNB stabilized and rebounded near the key 50% Fibonacci retracement level, while the hourly chart shows that the price has broken above the previous downtrend resistance at $652.

The current short-term resistance level is around $660, which coincides with the 61.8% retracement level of the aforementioned pullback range. If this level can be effectively broken, it will open up space for the price to challenge $670 or even higher.

Upward targets: $678, $685, and even aiming for $700.

Once the price effectively breaks through the $670 level, BNB is expected to target $678 and may further test the secondary resistance level of $685.

If this area is also conquered, BNB may aim for the psychological level of $700 in the short term.

From a technical perspective, the hourly MACD remains active in the bullish zone, and the RSI is also above 50, indicating that the market is still in a healthy upward trend.

The risk of a pullback still exists, and attention should be paid to key support levels.

If blocked at $660, it may retrace to the $642 area.

If BNB fails to effectively break through $660, it may face a pullback risk again in the short term. On the downside, the initial support level is at $652, with secondary support at $650.

Stronger support zone at $642; if this level is broken, the price may quickly drop to $630 or even $620.

Although the overall trend still leans towards bullish, if the trading volume cannot continue to expand, the upward momentum may be difficult to maintain.

Technical Summary

  • MACD (hourly): Remains in the bullish zone, with increasing momentum.

  • RSI (hourly): Maintains above 50, indicating bullish dominance.

  • Key support levels: $650, $642.

  • Key resistance levels: $660, $670, $678.