BNB is picking up momentum above the $865 area and is showing signs that buyers could push prices toward the $900 mark in the near term. Key points:
– BNB has kicked off a fresh upswing above $850 and cleared the $865 level.
- – The price is trading above $870 and the 100-hour simple moving average.
- – An upward-sloping trend line on the hourly chart provides support around $874 (BNB/USD, data from Binance).
- – Holding above $870 will be important for the pair to resume its ascent in the short term.
- BNB Reclaims Strength
BNB built a base above roughly $840 and then advanced, overcoming nearby resistance around $850 and $865.
Bulls managed to push past the $875 barrier, producing a recent high near $884.
Since that peak, the coin has been consolidating gains and remains above the 23.6% Fibonacci retracement of the move from the $841 swing low to the $884 high.
Price action is currently sitting above $875 and the 100-hour simple moving average. On the hourly chart of BNB/USD (data from Binance), a bullish trend line is notable, with support near $874, which could help maintain upward momentum.
Upside outlook
Immediate resistance may appear near $882, followed closely by $885. A convincing break above $885 could pave the way for a test of $892.
Clearing $892 would likely open the path toward the key $900 resistance. If bullish momentum continues beyond $900, $920 becomes a plausible next target in the short term. Risk of a Pullback
If BNB is unable to overcome the $885 area, a corrective move could unfold. Initial support sits around $875, followed by a more significant support zone near $865, which aligns with the 50% Fibonacci retracement of the $841–$884 move.
The primary support to watch is $855; a drop below $855 could lead to a deeper correction, with $835 the next major downside target.
Technical indicators
– Hourly MACD: Momentum in the bullish zone is waning. – Hourly RSI: The Relative Strength Index remains above 50, indicating modest bullish bias. – Major support levels: $875 and $865.
– Major resistance levels: $885 and $900. Data source and timeframe: hourly chart of the BNB/USD pair (Binance).
