- Binance Coin remains stuck in a range despite improving sentiment, with weak buying pressure limiting upward momentum.
- Analysts warn that without stronger investor confidence, BNB may struggle to meet its bullish long-term targets.
Despite pockets of optimism, Binance Coin (BNB) is struggling to break free from a persistent price range, casting doubt on its ability to meet bullish long-term projections.
Recent analysis highlights a growing divergence between positive sentiment and real buying pressure. BNB’s price briefly crossed the $630 mid-range resistance, a move that typically suggests bullish momentum. However, the lack of follow-through from investors paints a different picture. According to analyst Geoff Kendrick, “The lack of substantial buying pressure suggests that confidence must be bolstered before any significant price movements can occur.”
Also read: Bitcoin Hits $100K: Bullish Momentum Builds Toward New All-Time High
BNB’s technical structure remains locked in a well-defined range, with resistance at $750 proving difficult to surpass. Data from Coinalyze reveals that the recent upward move was fueled by consistent demand, but a subsequent decline in Open Interest signals that many traders are exiting positions—perhaps due to waning confidence or a desire to secure short-term profits.
Further complicating the outlook is the long-term holder Net Unrealized Profit/Loss (NUPL) data from Glassnode, which shows a shift from fear to hope. While this is typically a bullish sign, the NUPL’s current rangebound status underscores a lack of fresh capital inflow—an essential driver for sustainable growth.
While analysts still point to a possible climb to $720 in the short term, the path forward remains uncertain. The ambitious forecast of $2,775 for BNB by 2028, though enticing, now hinges on whether investor sentiment can turn into decisive action.
BNB’s market is caught in a holding pattern. Though sentiment has warmed, it hasn’t yet translated into the momentum needed to breach resistance or spark a new rally. For now, all eyes remain on trading volume and investor conviction—critical catalysts that will determine whether Binance Coin can rise to meet its lofty expectations.
