Binance Coin (BNB) continues to show resilience and signs of building momentum while situated within a rising channel on the weekly chart.
BNB's Rising Channel Structure
The weekly chart displays a clearly defined ascending channel that has been guiding BNB's trend since mid-2023. Price action remains well-supported by the lower boundary of the channel, which has served as a reliable foundation for prior rallies. Currently, BNB is trading in the upper half of this channel, and momentum is gradually building towards the top of the range.
BNB's Key Support
BNB has shown a strong reaction at the $560 support zone. This level has been tested multiple times and continues to act as a base for the current price movement. The market is holding firm above this area, which further supports the ongoing bullish structure. Support from this level, along with the long-term channel, suggests that BNB price has remained in accumulation or early expansion phases since the beginning of the year.
BNB's Trend Outlook
The channel structure reflects a steady, controlled trend. Although volume indicators are not visible on the chart, the consistent candle structure and positioning within the trendline suggest increasing momentum. BNB price continues to respect its broader range while preparing for a potential breakout. Traders are now watching whether the asset can challenge upper resistance with volume, which would reinforce the current trend and confirm a shift into the next phase of expansion.
Thus, BNB maintains a steady trend within a rising channel and shows strength at key support levels, creating a foundation for further growth.
