$BNB Eyes Breakout — Will Momentum Return Stronger Than Ever?
Binance Coin (BNB) is showing signs of bullish consolidation, hovering above the $665 level and attempting to reclaim upward momentum. After establishing a base above $652, BNB has managed to climb past the $655 mark, mirroring similar strength in Ethereum and Bitcoin. A positive move above the 23.6% Fibonacci retracement level from the $691 swing high to the $653 low, alongside a break above a descending trend line at $665 on the BNB/USD hourly chart, suggests that a rebound could be in play.
Currently trading below the 100-hour simple moving average and facing resistance near $672, BNB is attempting to build steady gains. This resistance aligns with the 50% Fibonacci retracement of the recent drop. A decisive break above $677 could unlock further upside, potentially driving the price toward $680 and even $685. Sustained momentum may ultimately lead BNB to test the critical $700 resistance.
However, failure to clear the $675 resistance zone could trigger another decline. Immediate support lies at $665, with a stronger floor near $662. If BNB slips below the $655 level, it may revisit $650, and a further breakdown could lead to losses toward $642.
On the technical side, the hourly MACD for BNB/USD is gaining strength in the bullish zone, and the RSI has moved above 50, indicating growing buyer interest. For now, key support levels to watch are $662 and $655, while resistance is stacked at $672 and $680.
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