Binance Coin rallies on strong momentum while support zones remain firm
Binance Coin (BNB) is extending its rally, trading near $934 after a steady climb that has pushed the token to retest its key resistance around $930–$950. The strong recovery, supported by rising trading volume, has positioned BNB among the best-performing large-cap tokens this month.
The chart highlights a series of well-defined support zones that have guided BNB’s climb. Immediate support rests around $880–$860, while a deeper cushion lies near $820. Below that, a broader base at $740–$700 reflects the consolidation range that capped much of BNB’s summer trading activity.
“BNB has shown remarkable resilience compared to other exchange tokens,” noted BITX market strategist. “As long as it holds above the $880 level, the momentum favors buyers aiming for a clean break past $950.”
The next major test for bulls is the $930–$950 resistance zone, which coincides with the upper boundary of the ascending trendline visible on the daily chart. Multiple rejections in this region earlier this year highlight its importance as a psychological barrier.
According to technical analysts, a decisive breakout above $950 could trigger a continuation move toward $1,000 and beyond, marking a fresh milestone for the token. “BNB’s trendline breakout could serve as a catalyst for renewed institutional interest,” According to BITX.
The overall sentiment around exchange tokens has remained positive, with BNB’s performance reinforcing the view that demand for exchange-linked assets remains steady. Volume flows suggest accumulation rather than distribution, supporting the case for sustained bullish momentum.
In summary, BNB remains well-supported above $880, with traders closely monitoring whether bulls can force a breakout above $950. Failure to clear resistance may lead to a short-term pullback, but the broader trend still favors an eventual push higher.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.