BNB Coils For Impact: Will $670 Crack Under Pressure?

Crypto analyst Wise Crypto recently turned the spotlight on BNB, noting in a post on X that the asset is approaching a critical technical juncture. According to his analysis, the weekly chart is coiling up with increasing pressure against the key resistance zone around $670, a level that has historically acted as a formidable ceiling. This repeated test of resistance has drawn heightened attention from traders, watching for a potential breakout. The BNB Breakout Blueprint According to Wise Crypto, BNB is currently hovering just below the long-standing resistance zone near $670. He noted that market activity is intensifying, with volume beginning to rise, a signal that momentum may be building behind the scenes. As price continues to coil beneath this significant barrier, pressure is mounting, and a decisive breakout could catalyze a powerful upward move. Related Reading: BNB Rally To All-Time High Grows Strong, But This Crucial Zone Must Hold Wise Crypto outlined several potential targets for BNB if it manages to break above the key resistance zone. The initial target is approximately $710, representing the next significant resistance level that will test the durability of the rally. This price point may act as a stepping stone for further gains, providing early confirmation that the breakout is gaining traction. If buying momentum remains strong, the second target of $742 comes into focus. Beyond that, Wise Crypto highlights a possible retest of BNB’s all-time high around $800 as the ultimate goal. While ambitious, this target could be within reach if the breakout is backed by robust trading volume and continued bullish enthusiasm from the market. Confirmation Signals To Watch In conclusion, the analyst stressed that this is not merely a random price surge but a move supported by strong technicals and fundamentals. Binance’s sustained dominance in the crypto space, along with BNB’s key role in its ecosystem and increasing real-world utility, all point toward a lasting and meaningful upside for the token. Related Reading: BNB Price Slingshot To $1,000: Why The 50 EMA Could Hold The Key A weekly close above the $670 resistance zone would act as a major confirmation that bullish momentum is taking hold. Such a close would suggest that BNB is ready to break free from historical ceilings and open the door for further gains. Volume trends will also play a crucial role. A breakout accompanied by a strong increase in trading volume would provide the “rocket fuel” needed to propel BNB higher. Lastly, holding above the $710 mark is essential, as this level represents an acceleration zone where buying pressure could intensify and push BNB toward even higher targets. These factors combined will be key indicators for traders looking to capitalize on the next move. Featured image from Adobe Stock, chart from Tradingview.com