Binance Coin [BNB] rallied to $780 last week, surpassing the May high of $745 as part of an upward movement that began in late July. The move triggered significant short liquidations, according to liquidation data.
Following the rally, BNB has since retraced. Technical analysts identify potential support zones at $700 and $670 that could influence the coin's next moves.
Technical Structure Shift
The break above $745—a swing high set in late May and the lower high of a bearish trend—signals a longer-term structural change for the asset. Multiple timeframe analysis shows bullish indicators including the Chaikin Money Flow returning above +0.05, climbing On-Balance Volume over the past two months, and an RSI above 50.
On the daily chart, the $700 level represents a former supply zone that was converted to support during an early-September rally.
Price Targets and Risk Levels
Weekly chart analysis suggests near-term price targets between $950 and $960, with $1,000 identified as a key psychological resistance level.
On the 4-hour chart, BNB recently retraced into a Fibonacci golden pocket between $697 and $715, where it showed bullish reaction. A breakdown below $697 would signal the first sign of trouble for bulls, while a deeper drop below $674 would shift the hourly structure bearishly and could lead to a retracement toward $589-$630.
The analysis assumes Bitcoin does not experience a massive sell-off, which could alter BNB's technical outlook.
