- BNB has surged 12% in the past month, breaking key resistance and showing strong bullish momentum.
- With technical indicators signaling continued strength, BNB could soon test $800, making a pullback unlikely in the near term.
BNB, the native token of Binance, is lighting up the crypto charts again. After a 12% surge over the past 30 days, the fifth-largest cryptocurrency by market cap has broken past key resistance levels, fueling speculation of a continued rally that could test — or even break — the $800 barrier.
At press time, BNB is trading near $691, its highest point in over three months, and just 14% shy of its all-time high. Despite some psychological resistance around the $700 mark, technical indicators suggest that a pullback may be unlikely in the short term.
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Bullish Signals Line Up
According to the 4-hour chart, BNB is trading well above its 20 and 50 Exponential Moving Averages (EMAs), a bullish signal that often precedes further gains. More significantly, the chart recently flashed a golden cross — a technical event where a short-term EMA crosses above a longer-term one — indicating strengthening upward momentum.
Adding to the optimism is BNB’s Market Value to Realized Value (MVRV) ratio, which currently stands at 1.36, far below the historic overvaluation zone of 2.84 to 9.49. This implies that BNB still has plenty of room to grow before reaching a potential cycle top.
Momentum Is Building
The daily chart backs up the bullish case. The Awesome Oscillator (AO) remains in positive territory, showing persistent buying pressure. Meanwhile, the Average Directional Index (ADX) has risen to 35.64 — well above the key level of 25 — confirming the strength of the ongoing trend.
If this momentum holds, BNB could soon breach $700 and challenge the next resistance level around $718.20. A sustained breakout above that could put the elusive $800 milestone within reach.
Still, traders should keep an eye on volume and sentiment. A sudden shift in market dynamics could test support levels at $661.60 or even $595. But for now, the bulls are firmly in control — and BNB looks ready for liftoff.