BNB Near $719: Breakout to $820 or Drop to $630?
Binance Coin (BNB) is currently consolidating at the top of the range zone, near the $719.63 resistance level, setting the stage for a decisive move. As long as price is trading below this level, the momentum will be slow.
- A successful breakout above $719.63 would confirm bullish sentiment, paving the way for a potential rally toward the next resistance level at $771.67. Such a move would signify strengthening momentum, encouraging further buyer participation (Solid Green Projection).
- Conversely, if the price fails to clear $719.63 and faces rejection, a pullback to $682.62 would be the first critical test for support. However, this is the slow zone for BNB.
- Losing $682.62 may signal a shift in control toward sellers, opening the door for a decline toward $630.57 (Red Projection).
Note
The consolidation above $719.63 in the coming hours would be positive and will help bulls to push price towards $771.67.Note
BNB has dropped into a range-bound zone, where price action is expected to be slow and uneven. To turn bullish on the 4-hour chart, BNB needs to break above $719.63.
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