BNB Gears Up: On-Chain Metrics & Technicals Favor Bulls
BNB is trading around $680 after a strong three-day rebound. On-chain data supports bullish momentum:
Stablecoin value on BNB Chain hit a YTD high of $24.2B on May 21, indicating strong network usage.
DEX trading volume soared to $11.8B, the highest of 2025 so far — showing renewed trader interest and liquidity.
Technical Breakout:
BNB broke above a symmetrical triangle on May 8, confirming a bullish breakout. The technical target is $839.14, with intermediate resistance levels at $709.29 and $732.
RSI is at 61 — bullish but not overbought.
MACD is converging — signaling some indecision among traders.
Downside Risks:
If a pullback occurs, watch for support at $638.68 and $583.55.
Conclusion:
BNB is showing strong bullish signs both on-chain and technically. A rally continuation seems likely unless key supports break.
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