BNB Surges 10% as Bullish Momentum Continues

BNB, the native token of the Binance exchange, has been on a bullish run, with its price consolidating near $663.19, just below the recent swing high of $678. This upward movement was triggered by a breakout above the $620 resistance zone, supported by increased volume and trendline confluence. On the 4-hour chart, BNB has flipped previous resistance zones into support, particularly at $643 and $617, both of which align with key Fibonacci levels.

The rally began after BNB broke through the 0.5 Fib retracement from the March high ($645) and reached the 0.382 Fib at $678, where it faced short-term rejection. The price is currently attempting to stabilize within this Fib pocket. Daily structure shows a series of higher lows since April 13, and the price is now trading well above its descending trendline from March.

On the 4-hour timeframe, the BNB price action remains bullish with all major EMAs (20/50/100/200) stacked in ascending order. The 20-EMA sits at $649.34 and has consistently held as dynamic support during minor dips. The 50-EMA at $630.42 forms secondary support, aligning with the prior consolidation zone. RSI on the 4-hour chart is currently 64.33—slightly cooling from its peak near 74 during the breakout, which suggests BNB is digesting gains while remaining in bullish territory. The MACD histogram is flattening after a strong expansion phase, but there is no confirmed bearish crossover yet, indicating the move is pausing rather than reversing.

Bollinger Bands on the 4-hour are wide, with the price testing the upper band around $670. This implies elevated BNB price volatility, and usually precedes either a continuation push or a mean reversion to the 20-band average near $650. Ichimoku Cloud also supports the bullish view—price remains above the cloud with a strong Tenkan-Kijun cross. Leading Span A is sloping upward, showing projected support near $647 for May 11.

The breakout is primarily technical: BNB price spikes above the $620 level cleared a six-week consolidation block, allowing bulls to reclaim control. Momentum was fueled by a falling wedge breakout confirmed on May 8, followed by volume expansion and higher low validation. Fibonacci retracement zones between $643 (0.5) and $678 (0.382) are being tested now. Clearing $678 on strong volume would likely trigger a move toward $701, the next 0.236 level from the Feb–April range. A failure at $678 would likely see a pullback to $643 or lower toward $617, where the 50-EMA and prior rejection zones converge.

For May 11, the technical picture remains bullish but slightly stretched. The key to upside continuation is a close above $678 with supportive volume and MACD expansion. That would put $701 and $720 in play. Conversely, a rejection at current levels could prompt a retracement to $643, where buyers are expected to defend the Fib and EMA support. Breakdown below $617 would shift short-term bias to neutral. Until then, BNB price update remains bullish with resistance at $678–$701 and support at $643–$617. The momentum trend is intact, but traders should monitor MACD flattening and overbought stochastic RSI for signs of fatigue.