BNB Fails to Resume Uptrend, Faces 3% Resistance at $692

Generated by AI AgentCoin World
Wednesday, Jul 16, 2025 2:05 am ET1min read
BNB
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BNB, the native token of the Binance exchange, has been struggling to resume its upward momentum, unlike other major altcoins that have been rallying. After reaching a high of $708,

BNB
price faced significant resistance and corrected its gains, dipping below the $690 and $680 levels. The price even tested the $675 support zone, forming a low at $674 before attempting a recovery.

The price is currently trading below $690 and the 100-hourly simple moving average, facing hurdles near the $692 resistance level. A key bearish trend line is forming with resistance at $692 on the hourly chart of the BNB/USD pair. If BNB fails to clear this resistance, it could start another decline, with initial support on the downside near the $682 level and major support at $674.

On the upside, if BNB manages to break above the $692 resistance, it could face further resistance near the $695 level. A clear move above the $695 zone could send the price higher, potentially testing the $708 resistance. A close above the $708 resistance might set the pace for a larger move toward the $720 resistance, with any more gains calling for a test of the $732 level in the near term.

Technical indicators suggest that the hourly MACD for BNB/USD is losing pace in the bullish zone, while the hourly RSI is currently below the 50 level. Major support levels are at $685 and $680, with major resistance levels at $692 and $708. The price must stay above the $680 level to start another increase in the near term.

In summary, BNB price is currently facing hurdles near the $692 resistance level, with a key bearish trend line forming on the hourly chart. The price is trading below the 100-hourly simple moving average and must stay above the $680 level to resume its upward momentum. If BNB fails to clear the $692 resistance, it could start another decline, with major support at $674. On the upside, a clear move above the $695 zone could send the price higher, potentially testing the $708 resistance and setting the pace for a larger move toward the $720 resistance.