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- BNB flipped descending resistance into support and is now rising with strong bullish momentum.
- If support holds, BNB could surge toward the projected $900 target zone.
In recent weeks, Binance Coin (BNB) has not been in a euphoric mood. After hitting a new record high of $859.56 on July 25, 2025, the price of BNB actually fell 3.9% to $772.82 in early August.
This decline doesn’t seem entirely surprising—BNB had already risen 19% in a month and 10.7% in just one week. It’s understandable that traders are opting to take profits. Moreover, technical indicators have been warning of a potential correction since late July.
BNB Maintains Structure Despite Momentum Cooling Off
One indicator confirming this is the 14-day RSI, which briefly touched 76, then dropped to 61 on August 1. This decline reflects a weakening of short-term buying momentum. Meanwhile, the MACD indicator also signals a less favorable outcome, with its histogram shrinking from +1.2 to +0.59.
This indicates that upward momentum is losing steam. In fact, trading volume in the last 24 hours also fell 4.7% to $2.96 billion. This could be a sign that market interest in a further rally is waning.
However, despite the apparent sluggishness, not everyone is pessimistic. A popular crypto analyst known as Lingrid shares a different view. According to him, technically, BNB is exhibiting an interesting pattern.
He noted that the price has successfully broken through the previously inhibiting “descending resistance,” then retested it, becoming new support. This retest is considered successful, and BNB coin is now beginning to form a consistent upward pattern, supported by still quite solid momentum.
Analyst Projects $900 as Key Support Zone Holds
Lingrid believes that as long as the local support level—in the $780 to $800 range—holds, the potential for a price increase to the target zone above $900 remains wide open. Although the market is currently hesitant, this is precisely where opportunities usually arise.
Overall, market sentiment towards BNB remains neutral to optimistic, especially if the price can maintain its position above this new support area.
Furthermore, several fundamental factors support the bullish argument for BNB. One is Binance’s ongoing deflationary agenda. CNF reported that on July 10th, BNB completed its 32nd quarterly burn. This step is part of a long-term commitment to halve the total supply of BNB from 200 million. In the digital asset world, such a supply reduction can provide an additional boost to the price, especially if demand remains high.
Furthermore, institutional investors have also attracted attention. Last June, as we highlighted, Nano Labs announced a $500 million investment in BNB through convertible notes. Interestingly, this news immediately boosted the company’s stock price by over 106% at the time. Still, such a significant move is enough to demonstrate that major players still see a bright future for BNB.
