Recently, BNB, the native token of the Binance ecosystem, has shown renewed strength, attracting the attention of traders and investors. After months of consolidation, BNB has broken key levels and is now attempting to overcome significant resistance.
Current BNB Price and Its Dynamics
The current price of BNB is around $681.60, after a sharp rejection near $690. Despite recent bullish momentum, a red candle on the Heikin Ashi chart indicates uncertainty among buyers at the upper resistance zone. This could be a short-term pullback rather than a trend reversal. The RSI shows a reading of 61.16, indicating healthy bullish movement but not yet overbought.
Resistance Levels and Targets
At the Fibonacci retracement levels drawn from the recent swing low of $500 to the high of $720, the price appears to be oscillating between the 0.618 level ($675) and resistance around $700–$710. If BNB decisively breaks through this level on strong volume, the next upside target could be $750. The Fibonacci extension calculation suggests the 1.618 level may reach $855.96, though this seems too ambitious for July.
Future Prospects for BNB
If BNB continues its upward momentum and breaks above $700, the next price targets could be $710 and $735, with mid-term resistance at $750–$765. It is crucial that the price holds above the support level of $675 in the next 48–72 hours; otherwise, targets may shift downward to $650 and $620.
BNB displays signs of bullish momentum; however, overcoming key resistance levels is essential for confident ascension. The current analysis suggests that if the price remains above $675, further growth prospects may be available.
