BNB (Binance Coin) Is in the Spotlight as Its Price Approaches the Psychological $666 Resistance Level

BNB (Binance Coin) is in the spotlight as its price approaches the psychological $666 resistance level. According to CoinMarketCap data, the BNB price is $630.49

Binance Coin (BNB) is in the spotlight as its price approaches the psychological $666 resistance level. According to CoinMarketCap data, the BNB price is $630.49 at press time, marking a 0.50% increase over the last 24 hours. Additionally, the 24-hour trading volume has increased by 58.22% to $2.55 billion.

The rising volume indicates increased market activity and investor interest in the BNB coin. A technical analysis of the price action shared by prominent crypto traders on X (formerly Twitter) shows that BNB has been consolidating within a critical range. One analyst highlighted the significance of the $666 level, suggesting that a breakout above this resistance could propel BNB toward a new all-time high (ATH) at four digits.

Several cryptocurrency analysts are forecasting a four-digit target price for BNB, and traders are keeping an eye on major resistance levels, particularly the $666 level. If BNB can break through its current price level, traders expect it to rise towards $1,000, as shown in various technical charts.

One crypto analyst, known as BitBull on X, is focusing on the $666 resistance for BNB. They suggest that if BNB can pierce through this critical price point, it could pave the way for a rally towards a new all-time high. Their analysis, which includes an image of the candlestick chart, indicates that a breakout above $666 could send BNB soaring to new heights.

Their tweet, which is embedded below, reads: “$BNB eyeing the crucial $666 level. A breakout here could send it flying to a new ATH! Tp: $1,000.”

Another crypto analyst, Crypto Bull, shares a similar bullish view, indicating that four-digit ground is well within Binance Coin’s reach. The analyst's post suggests the BNB coin is poised for a significant price increase, confirming the $1,000 mark.

The chart shows a breakdown of the falling trendline, which could signal new bullish momentum. With BNB hovering around $639 at the time of posting, Crypto Bull suggests that upward pressure is building, and a breakout could send prices soaring.

Since BNB reached an ATH of $793.35 in December 2024, a surge toward $1,000 represents a new record high and could trigger further FOMO (Fear of Missing Out) among investors.

The immediate focus for traders is whether BNB can successfully break past the $666 resistance level. If this level is cleared with high volume, analysts predict an explosive rally toward $700-$750 in the very near term. However, failure to break this resistance could see BNB retesting $600-$620 for support before another attempt at the upside.

Why Binance Coin Keeps Doing Well

The strong fundamentals of Binance Coin contribute to its resilience and ability to maintain strong gains throughout bear markets and periods of crypto winter.

The Binance ecosystem is expanding rapidly, with increasing use in decentralized finance (DeFi), non-fungible tokens (NFTs), and the metaverse. Binance Smart Chain (BSC) is a preferred choice among developers for creating decentralized applications, sustaining demand for BNB tokens.

A major factor driving BNB’s recent price surge is its liquidity campaign.

According to CoinMarketCap data, trading activity on the BNB Chain has skyrocketed by a staggering 659%.

This remarkable surge in trading volume on the BNB Chain can be largely attributed to PancakeSwap, the leading decentralized exchange (DEX) operating on the network.

In 24-hour trading, PancakeSwap is reaping the benefits with an impressive $1.49 billion, easily outperforming Uniswap and securing a dominant 90% share of the BNB Chain DEX market. This level of activity is a strong catalyst for the BNB price.