BTCC
/
BTCC Square
/
Thecryptobasic
/
BNB Bulls Charge Toward $700 – Can They Smash Through to $750?
BNB Bulls Charge Toward $700 – Can They Smash Through to $750?
14
1
Binance Coin flirts with a critical resistance level as traders brace for the next leg up. Here’s why the $700-$750 zone could spark fireworks—or a brutal rejection.
The Setup:
BNB’s relentless rally puts it within striking distance of $700, a level that’s crushed bullish dreams before. Market sentiment? Greedy, but not stupid—yet.
The Catalyst:
Exchange dominance and burn mechanics keep fueling the fire. Meanwhile, retail FOMO lurks just below the surface, waiting for confirmation.
The Punchline:
If BNB clears $700, $750 becomes the next magnet. Fail? Cue the ’I told you so’ chorus from permabears—and another round of ’decentralization theater’ from the usual suspects.
Binance Coin Price Chart
Tuesday’s 24-hour high is very close to the previous swing high NEAR $698. The proximity to the $700 psychological level creates a high supply zone, suggesting Binance Coin may experience short-term volatility.
Nonetheless, the recent bullish crossover of the 50-, 100-, and 200-day EMA lines has produced a positive alignment. Immediate dynamic support at the 50-day EMA sits at $636, near the $637 horizontal support level.
Additionally, the MACD and signal lines remain positively aligned above the centerline. However, their close proximity and converging movement indicate strong volatility and potential downside risks.
Price action traders can anticipate a bullish move if Binance Coin breaks above the $700 psychological level, with an immediate target of $750. Conversely, a pullback below Tuesday’s opening price of $674 could trigger a steeper correction.
Immediate support levels are near the $650 psychological mark, followed by the $637 horizontal support.
BNB Bulls Hold Strong in Derivatives Market
Despite short-term spot market volatility, BNB derivatives maintain strong bullish sentiment. According to Coinglass, open interest remains steady at $829.53 million, while options volume has surged 91.30% to $3.15 million.
Additionally, the bullish intent in the derivatives trade recovers as the over-weighted funding rate flips positive to 0.0032% and the long-to-short ratio surpasses the bullish threshold at 1.
By:
