Binance Coin (BNB) Shows Strong Momentum Across Technical and On-chain Metrics, Suggesting a New Upward Move May Be Afoot

Binance Coin (BNB) is showing strong momentum across technical and on-chain metrics, suggesting the asset may be preparing for a new upward move.

Key Insights:

* Binance Coin (BNB) is showing strong momentum across technical and on-chain metrics, suggesting the asset may be preparing for a new upward move.

* Market analysts point to rising BNB Chain usage, growing transaction volumes, and a consistent long-term price structure that remains intact.

* The token faced rejection at the key resistance between $670-$700 but bounced back strongly, indicating strong buying pressure at higher levels.

* On-chain data from Santiment reveals a substantial increase in daily transactions on the BNB Chain over the past three months.

* As interest in the ecosystem grows, we can expect to see BNB continue its recovery toward the next key resistance at $700, potentially setting the stage for a move toward $1,000.

Binance Coin Breaks $700 Wall — Is a $1K Surge Next?

BNB price chart shows a cup and handle formation, a pattern that is considered to be a continuation of the bullish trend . This pattern takes place over multiple years, the rounded cup during late 2021 to 2023, then handle consolidation happening for the 2024 and early part of 2025, as per AMCryptoAlex chart.

A price movement over the last few days clearly shows a breakout from the key resistance range between $670 – $700. According to analyst, this throwback is a super strong sign confirming the continuation of the trend. The long-term structure looks to be strong with a rising white trend line which remains holding support and is there to support BNB since mid 2022 with a sequence of higher lows. “BNB multi-year uptrend support is still intact,” he added.

BNB Breaks $700 Wall — Is a $1K Surge Next?

Alongside the price movement, on-chain metrics provide a clearer view of the asset’s utility. BNB daily transactions have increased steadily over the past three months. The number of daily transactions has grown from approximately 3.8 million to over 7.3 million, indicating rising network usage.

This growth in transactions reflects broader activity across decentralized applications and DeFi protocols on the BNB Chain. Analysts interpret the increase in daily usage as a sign that more participants are using the platform for real-world utility. This rising activity also aligns with the technical strength seen on the chart, suggesting continued interest in the ecosystem.

Price too has dropped in early 2024, but has been on a recovery path since then. That rising transactions help stabilize price may mean investors are becoming more confident in the token and, by extension, the network.

Analyst Eyes $1,000—BNB Still in Clean Uptrend

AltCryptoGems, also supports the bullish view on BNB. By their device, BNB can be seen swinging inside a long term ascending channel. It has still continued to respect the range structure as clean higher highs and lower lows are made.

According to him, BNB is definitely one of the few charts still perfectly uptrending on high time frames, and going by the channel extension, he projected a price target between $950 to $1,000. Unless price is manipulated below and the structure is canceled out, we might see an upper bound of this area in the near future.

Binance Coin Technical Indicators Indicate Momentum Is Building

BNB is currently down 2.24% from its last day, now trading at $623.06. The chart shows that the asset is currently consolidating around $630. The Relative Strength Index (RSI) stands at 51.64, slightly above neutral, suggesting moderate buying strength without overbought conditions. The MACD line is also above the signal line, with a positive histogram, indicating early bullish momentum.

However, the Cumulative Volume Delta (CVD) reflects more recent selling pressure than buying, suggesting that buyers will need to increase volume to sustain the breakout. A confirmed move above the $640 resistance zone with rising volume would reinforce the current trend and push price toward higher levels.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.