BNB Tests Key Resistance as Bulls Push Against Descending Trend

Key Takeaways

• BNB is attempting to break out of a descending wedge.
• Short-term retracement is possible before major bullish continuation.
• Breakout confirmation needed with daily close above $630.

Binance’s native coin, BNB, shows signs of an important structural breakout as price action tightens within a long-term descending wedge formation.

The daily and intraday charts reveal that BNB is approaching a decision point. A bullish breakout can launch a strong rally, or a corrective pullback may occur before continuation.

Overall momentum is building, and the subsequent few sessions will be pivotal in shaping the near-term trend.

BNB Price Analysis

The daily chart displays a well-formed descending wedge pattern following BNB’s all-time high of $792, marked by a completed five-wave impulse.

The corrective phase, identified as a WXY complex correction, appears to be concluding as price action tests the wedge’s upper boundary.

The Relative Strength Index (RSI) momentum on the daily timeframe has gradually improved, suggesting that underlying strength returns without entering extreme overbought conditions.

Key Fibonacci retracement levels also align with significant structural levels: the 0.236 level at $653.5 and the 0.382 level at $567.8.

Currently trading near $610, BNB sits just under a crucial breakout threshold.

A daily close above the descending wedge resistance of $610 and the 0.236  Fib level would signal a significant bullish reversal, likely targeting $700–$792 in the coming weeks.

However, failure to break out decisively could trigger a short-term pullback toward $567.8 (0.382 retracement) or even $498.6 (0.5 retracement).

The broader structure favors bulls, but to avoid a fakeout scenario, the breakout must be confirmed by substantial volume and a daily candle close above key resistance.

BNB Price Prediction

The 1-hour chart reveals a microstructure where BNB completed a five-wave minor advance inside a smaller ascending channel.

After a corrective (a)-(b)-(c) wave sequence fully develops, the price should attempt to break out again from consolidation near the wedge apex.

The green path outlines a potential short-term dip into the $580–$600 zone (wave (c)) before a strong reversal upwards.

Such a pullback would reset the intraday RSI, which is hovering near overbought conditions.

If the pullback materializes, a bounce off $580–$600 would trigger a primary impulse wave, targeting $653.5 first and then higher extensions toward $700.

Breakout confirmation would be stronger if the price reclaims $620–$625 quickly after the retracement.

Conversely, a direct breakout without a deeper pullback is also possible, although slightly lower probability given current intraday RSI readings.

Immediate bullish continuation without retesting support would require strong volume acceleration and mean that the price still develops its ending (v) wave.

The lower time frame structure supports a bullish view, but a minor retracement should be expected before a sustainable rally unfolds.

Monitoring RSI cooldown and volume expansion around support zones will be key to timing the next major move.

Key Levels to Watch

• Major Support: $580 (local low), $567.8 (0.382 Fib), $498.6 (0.5 Fib).
• Immediate Resistance: $653.5 (0.236 Fib), $700 (round number), $792 (ATH level).
• Breakout Confirmation: Close above $653.5 with substantial volume.
• Invalidation Level: Drop below $567.8 weakens bullish breakout thesis.
• Fractal Watch Zone: $580–$600 zone for higher low and rally trigger.