Binance Coin (BNB) Nears All-Time High, Eyes $800 Breakout

Binance Coin (BNB) is currently trading near its all-time high (ATH), with technical indicators suggesting a strong bullish trend. The cryptocurrency is forming a robust market structure, with analysts predicting a breakout above the key resistance level of $750. At the time of writing, BNB was trading at $734, showing persistent upward momentum.

According to analysis by Crypto Patel, BNB is coiling under its previous ATH with a strong bullish structure. The price has been steadily climbing, supported by increased trading volume and higher market participation. Open interest in BNB futures has also grown, nearing $1 billion, as per CoinGlass data. BNB is trading above crucial moving averages such as the 50-day and 200-day simple moving averages, indicating sustained strength in the long-term trend. The asset is currently testing a resistance zone between $747 and $793, which has historically capped price advances since 2021. Analysts believe that if BNB clears this zone, the path towards $2,000 becomes more visible.

The Moving Average Convergence Divergence (MACD) has shown some short-term weakness, but the overall trend remains intact. The Relative Strength Index (RSI) is around 78, indicating strong buying pressure even as it approaches overbought conditions. Traders continue to monitor these indicators for signs of further momentum.

Recent developments have bolstered BNB’s market performance. The platform completed a $1 billion token burn, reducing the circulating supply and supporting price stability. Infrastructure upgrades to the BNB Chain have enhanced scalability, improving the network’s competitiveness against other blockchains. Additionally, Binance announced a partnership with Ondo Finance, enabling tokenized U.S. stocks and ETFs on BNB Chain. This integration with traditional finance is expected to attract more institutional participation. The Caldera (ERA) airdrop has also incentivized BNB holdings, encouraging long-term investment.

Crypto Virtous stated on social media, “BNB is FLYINGGG!! Very close to all time high once again. Ready to break the $800 mark.” According to the market analysts, a confirmed breakout at the price level of above $750 may cause a rally to the price areas of $800, and in the long term, $2,000.