BNB Tests $653 Resistance Amid Bullish Consolidation

BNB, the native cryptocurrency of the Binance exchange, is currently at a critical juncture as it navigates between two significant technical levels. After a period of consolidation, BNB is testing resistance near the 200-period moving average, which is currently around the $653 mark. Simultaneously, support at the $640 level remains robust, acting as a safety net for bulls aiming to maintain the current structure.

The 200-period moving average is acting as a ceiling against BNB's uptrend. The M15 BNB chart shows that the price is testing resistance around the $651.50 level. This move follows a recent bounce off an ascending trendline support, indicating that buyers are still defending the short-term uptrend. However, the price action remains just below the 200-period moving average, which is acting as a dynamic resistance zone near the $653 mark.

Momentum indicators are providing mixed signals. The MACD continues to print negative values, indicating that bearish pressure hasn't fully dissipated. Meanwhile, the RSI has started recovering from previously oversold conditions, suggesting the potential for a short-term bounce within the ascending channel.

On the M30 and H1 charts, BNB is currently trading at $650.10 and appears to be consolidating just below the 200-period moving average, which is situated around the $653 level. This area is acting as a key short-term resistance zone, with price action showing hesitation around it. The H1 chart mirrors this behavior, showing a broader ascending channel structure that suggests an underlying bullish bias, though still unconfirmed.

The immediate resistance to watch remains near the $653 mark, aligned with the 200 MA on both the M30 and H1 timeframes. If bulls can muster enough strength to break and sustain above this level, it could trigger a fresh wave of upward momentum for BNB toward the next resistance at $657. This would represent a potential continuation of the ascending channel’s structure and hint at growing bullish control in the short term.

On the flip side, if the price fails to push above the $653 resistance, consolidation may begin to lose steam. In such a scenario, a retreat toward the previous swing low near the $640 level becomes likely. This support area has already proven its strength and could be the next level of defense if bearish pressure increases. Traders are watching closely, as these levels may determine BNB’s next directional move.