BNB is trading at $679, showing resilience within its ascending parallel channel on the daily chart. The price recently tested and held the channel’s lower trendline as support, hinting at a potential bounce toward the upper trendline near the $794-800 area.
The 50-day exponential moving average (EMA), which is near $663, has acted as a support level, while the 200-day EMA at $590 remains a critical long-term cushion. Additionally, the RSI sits near 48, suggesting neutral momentum with room for further upside.
Fibonacci retracement levels align with the channel structure, with BNB rebounding from the 0.786 level near $670. A decisive close above $700 could increase the likelihood of retesting the $794-800 resistance.
However, failure to hold the channel’s support could expose the price to $625 or lower.
