As December 2024 comes to a close, Binance Coin ( $BNB ) is consolidating within the $700-$730 range after hitting a high of $793 earlier in the month. A symmetrical triangle pattern has emerged, signaling potential for a breakout as we head into 2025.
Key Levels to Watch
Resistance: $734, $750, and $800.
Support: $710, $680, and $650.
Market Indicators
RSI: Neutral at 52, leaving room for movement.
MACD: Minor bullish crossover indicates potential upward momentum.
Volume: Decreased, suggesting a significant move may be coming.
Fundamental Drivers
1. Binance Smart Chain Growth: New dApps, DeFi protocols, and tokenized real-world assets (RWAs) drive demand.
2. Token Burn: Recent burns reduce supply, boosting scarcity.
Outlook for Early 2025
Bullish: Break above $750 could push BNB to $800-$900.
Neutral: Continued consolidation between $700-$750.
Bearish: Drop below $700 could retest $650 support.
BNB’s ecosystem strength and market conditions will determine its trajectory, but its fundamentals remain strong heading into 2025.
