BNB breaks $660 as traders eye $700 target
BNB is gaining momentum after breaking out of a months-long range. The Binance Coin (BNB) price crossed $660 and is up about 1.56% in 24 hours, with spot levels around $662.6.
Traders’ focus is now the psychological $700 level. Analysts say a sustained move above $660 is the key confirmation for continuation, supported by higher trading volumes and improving sentiment.
However, BNB remains under a broader descending trendline linked to the $860 area, so a full reversal may require a break above that downtrend. Near-term support is cited around $626, then $610. If momentum fades, nearby moving-average support is seen in the $630–$645 zone, with deeper pivot support at $620–$630 and $613 as a potential “must-hold” level.
Momentum indicators are mixed on TradingView: RSI is around 61 (not yet fully overbought), while stochastics suggest the rally could cool. Some oscillators lean bearish, though MACD still supports a bullish bias.
Elliott Wave commentary adds another threshold: BNB should stay above $652 for renewed upside; slipping below could trigger consolidation or a short correction. Resistance is currently clustered at $660–$666, where a strong close could open room toward roughly $697.
Bullish
The article highlights a real breakout: BNB has cleared the long-standing $660 resistance and is pressing toward the $700 psychological level. Traders generally treat this as a trend-shift trigger, especially when accompanied by rising volumes and improving sentiment.
That said, the bullish case is not “all-clear.” BNB still sits below a larger descending trendline from around $860, and several oscillators are mixed or mildly bearish—meaning follow-through depends on maintaining above $660. The near-term levels ($626/$610 support, resistance $660–$666, and the $652 threshold from Elliott Wave) suggest a typical post-breakout test: if buyers defend, the market can extend toward ~$697 and eventually $700; if not, a pullback toward support and consolidation becomes likely.
Historically, similar resistance breakouts in majors tend to produce two phases: (1) breakout + momentum pop, then (2) a retest/hold phase that decides whether the move becomes a sustained trend. Here, Bitcoin’s direction is also flagged as an input variable, so stability in BTC would likely amplify BNB’s follow-through over the short to medium term. Longer term, a confirmed break above the larger downtrend would be the more durable bullish signal, while failure would keep BNB range-bound.