Binance’s BNB Faces Critical Resistance at $692 Amid Market Rally
BNB's price recovery has stalled as it struggles to break through the critical $692 resistance level, despite a broader rally in the altcoin market. The token briefly dipped below $680 before finding temporary support at $675, with technical indicators pointing to continued bearish pressure. A descending trendline on the hourly chart is adding to the selling pressure NEAR $692, while the 100-hour moving average is acting as dynamic resistance. Market participants are closely watching these key levels to gauge BNB's next move.
BNB Price Stalls Amid Altcoin Rally, Faces Key Resistance at $692
BNB's price recovery falters as it struggles to break through the $692 resistance level, despite a broader altcoin market rally. The token dipped below $680 before finding temporary support at $675, with technical indicators suggesting continued bearish pressure.
A descending trendline on the hourly chart compounds selling pressure near $692, while the 100-hour moving average acts as dynamic resistance. Market participants await a decisive break above $695 to confirm trend reversal potential.
The underperformance relative to ethereum and Bitcoin highlights selective profit-taking in major exchange tokens. Binance's native token now tests critical support levels that could determine its near-term trajectory.
XRP Price Could Drop 20% Before Next Rally, On-Chain Data Suggests
XRP faces a potential 20% correction as on-chain indicators mirror historical patterns preceding local tops. Exchange reserves on Binance have surged to 2.96 billion tokens—the highest since January 2025—echoing conditions seen during May 2025's price peak at $2.54, which triggered a subsequent 20% decline.
Whale activity compounds bearish signals, with transactions exceeding $1 million reaching a three-month high. Such spikes typically precede distribution phases, where large holders capitalize on price peaks. The convergence of rising exchange deposits and whale movements suggests imminent selling pressure, though analysts anticipate a resumption of XRP's upward trajectory post-correction.
