$BNB Binance Coin is no stranger to market dominance. Recent technical analysis shows the BNB price holds strong near $720 with support at $700. However, bearish sentiment creeps in as whale activity declines and futures open interest has dropped nearly 50% to $433 million. This lack of momentum could pose short-term challenges.

Despite these headwinds, the technical outlook remains cautiously optimistic. Analysts point to a potential symmetrical triangle breakout that could push the BNB price to $850. That will be a gain of almost 20%. But as Binance grapples with regulatory scrutiny and an increase in competing platforms, the long term growth for BNB is very uncertain.