In the current market landscape, BNB is striving to reclaim the $650 level. Analysts suggest that a breakout toward the $700 mark could be imminent, potentially triggering a significant upward movement toward new highs.
On Friday, BNB fell to the $640 support level after failing to maintain its position in the mid-range of its local price fluctuations. The cryptocurrency has been oscillating between $630 and $690 since it successfully surpassed the $600 barrier last month. During its May surge, BNB approached the critical $700 resistance, reaching a four-month peak of $697. This pivotal level has historically driven the altcoin's price toward its all-time high of $788, which was achieved in late 2024 but lost during the early 2025 market corrections. Currently, BNB is focused on regaining this area as a support level to facilitate further price recovery.
Analyst Carl Runefelt from The Moon Show observed that BNB is forming a one-month descending triangle pattern on the daily chart, with the price compressing between established support and resistance boundaries. The chart indicates that the support level is around $635, with descending resistance near the $650 mark. Runefelt believes that a bullish breakout from this pattern could drive the token up by 10% toward the $700 resistance level. Importantly, if BNB can reclaim and solidify this area as support, it may also advance towards another significant horizontal resistance level.
Another analyst, Crypto Batman, noted that BNB is developing a multi-month ascending triangle, consistently bouncing off the support zone between $635 and $640 while adhering to the ascending trendline. He remarked that despite market volatility, BNB's structure appears robust, suggesting a potential breakout above $700, which may lead to a larger move toward the $800 level.
Crypto Batman also highlighted that BNB's price movement could mirror last year’s patterns. He pointed out that the altcoin tends to test key price zones before making significant advances, showing a similar base structure as it did in the third quarter of 2024. Last year, BNB established a three-month base around $460-$470, resulting in an explosive price increase in the following months. This year, BNB has formed a comparable base near the $550 level, indicating renewed strength. According to the analyst, “If the pattern repeats, then patience will yield profits.”
Furthermore, he noted that despite a retracement in early April, BNB has maintained its macro range, trading above its lows and repeatedly tested support levels. The cryptocurrency is currently consolidating in the mid-range, which may lead to a retest of the macro range highs around $729. He explained that if a breakout above the $729 resistance occurs, it could pave the way for a 50% upward movement.
Overall, the analyst confirmed that BNB’s structure remains bullish as long as it holds above the $490-$500 levels, with the $600 mark serving as strong support. As of the latest updates, BNB is trading at $641, reflecting a 2.9% decline over the past week.
