Binance Coin (BNB) has been in a narrow range for several weeks, changing by almost no more than 1% in the last month. However, beneath this calm surface, a series of subtle but significant signals are emerging.
From the increase in user participation to signs of whale activity, on-chain data suggests that this sideways structure may be approaching a turning point for the BNB price if the right triggers align.
The number of active addresses is rising again
The number of active BNB addresses has been steadily increasing since early May. After a decline throughout most of March and April, participation began to recover, with a major higher high recorded on June 20, reaching over 1.75 million daily addresses. This is not just a sign. The growth in active addresses indicates broader user interest, which often serves as a foundation for more sustained price movements. It shows that the current consolidation is not entirely empty; organic engagement is growing in the background.
Increased activity in the top-1% wallets hints at quiet accumulation
Glassnode data also shows something we haven't seen all year: a double spike in the percentage of supply held by the top-1% of BNB addresses. These two spikes, on June 21 and June 28, are the only significant rises in 2025. These top-1% holders, typically whales or institutional addresses, have remained at a steady level for months. Sudden moves may indicate quiet OTC purchases or redistributions. These wallets typically do not chase rallies—they build positions when the price is quiet. This aligns with the current low-volatility price structure of BNB.
The 'top-1%' indicator tracks the total supply of BNB held by the largest addresses. A spike here signals accumulation by the largest holders, which could precede a move if it is sustained.
Ascending Triangle Formation and RSI Divergence in Action
On the daily chart, BNB continues to adhere to the ascending triangle pattern, with strong horizontal resistance at the 665–693 dollar level.
This pattern typically signals a future breakout, but it is valid only if the structure is maintained. At the moment, BNB is trading around $661, remaining slightly below an immediate but strong resistance level at $665. If the BNB price can overcome this level, it would also mean a breakout of the pattern. However, since the ascending triangle pattern has a broad upper trendline created by several horizontal support and resistance lines, the BNB price will need more power than just overcoming a single resistance level. This is where it gets interesting. From April 7 to June 22, the BNB price was forming higher lows, while the RSI was forming lower lows; a classic bullish divergence.
This divergence hints at a weakening bearish momentum, even as the price remains stable. The RSI has since turned upward, confirming the triangle and adding strength to the case for a breakout. If the current sentiment holds and participation remains high, BNB could target a move to 686, 696, or even the long-term ceiling at $733.
All this bullish structure hinges on one level: $635. A breakout below this level nullifies both the triangle and the RSI divergence, and is likely to be accompanied by a decrease in active addresses or a change in whale holdings. This is your warning signal zone.#BinanceSquare #Write2Earn #BinanceTurns8 #BTCBreaksATH #crypto $BNB