BNB Approaches Key Resistance Zone of $670 Amid Increased Trading Volume
Crypto analyst Wise Crypto highlighted BNB's approach to a critical technical juncture, with the weekly chart indicating increased pressure against resistance around $670. This level has historically been a significant barrier, attracting trader attention for a potential breakout.
BNB Breakout Potential
Key points from Wise Crypto's analysis include:
- BNB is currently just below the resistance zone near $670.
- Rising market activity and volume suggest building momentum.
- If a breakout occurs, initial target is approximately $710.
- Further gains could lead to a second target of $742 and possibly retesting the all-time high around $800.
Confirmation Signals
Wise Crypto emphasized that this price movement is supported by strong technicals and fundamentals:
- A weekly close above $670 would confirm bullish momentum.
- An increase in trading volume during a breakout would provide necessary support for upward movement.
- Holding above $710 is crucial for maintaining buying pressure and targeting higher levels.
