BNB Tests Key Resistance Level
BNB is currently trading around $1,153, which puts it right at a significant supply zone that traders have been watching closely. The token has managed two consecutive green daily closes and appears to be heading for a third, which is encouraging for those hoping for continued upward movement.
What’s interesting is that BNB hasn’t traded above $1,160 since mid-October, when prices collapsed from their all-time highs above $1,370. The current price action suggests the token is breaking out of an ascending channel pattern, which could signal more gains ahead.
Looking at the technical indicators, the Relative Strength Index has moved from oversold territory below 40 to a more neutral 54 on the daily chart. On shorter timeframes, it’s around 65, which suggests there might be some room for upward movement before we hit overbought conditions. The divergence we’re seeing indicates that selling pressure is diminishing, which could give bulls more breathing room.
Potential Price Targets and Risks
If BNB can manage a decisive close above $1,160, that would validate the breakout and potentially open the door to higher price levels. The next resistance points to watch would be around $1,185 and then $1,215. Success at those levels could bring the all-time high above $1,300 back into play.
However, there’s always the risk that bears might push back. If the price fails to hold above $1,150, we could see a pullback to around $1,100 or even $1,080. It’s one of those situations where the market could go either way, depending on broader sentiment and buying pressure.
The CZ Pardon Factor
One development that’s definitely helping BNB’s case is President Trump’s pardon of Binance founder Changpeng “CZ” Zhao. The news gave BNB an immediate boost, and it seems to have lifted sentiment across the broader crypto market as well.
CZ served a four-month sentence in 2024 after stepping down as Binance CEO and being convicted of anti-money laundering violations related to the exchange’s operations. The pardon has naturally led to speculation about whether he might return to the company he founded, though from what I understand, he’s more focused on other initiatives like YZi Labs at the moment.
Beyond the pardon news, BNB has also benefited from fresh listings on major platforms like Coinbase and Robinhood, which has likely increased accessibility and trading volume.
Market Context and Outlook
The broader crypto market is showing some strength, which always helps individual tokens like BNB. When the overall market sentiment is positive, it creates a rising tide that lifts most boats.
I think the current retest of $1,160 is particularly important because it represents a psychological and technical battleground between bulls and bears. How this plays out could set the tone for BNB’s price action in the coming weeks.
What’s worth noting is that BNB has shown resilience with a nearly 20% increase over the past month, even with the recent volatility. That kind of performance suggests there’s genuine interest and buying pressure behind the token, not just temporary speculation.
The coming days will be crucial in determining whether this breakout attempt succeeds or if we see another rejection at this key level. Either way, it’s shaping up to be an interesting period for BNB holders and traders alike.
