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BNB Price Rally Supported by Rising Network Activity
BNB Price – Binance Coin (BNB) is catching the crypto world’s attention once again, with recent price movements signaling a potential bullish continuation. As BNB price climbs to around $672.49, analysts and investors are closely watching the charts and on-chain data for signs of further upward momentum.
BNB Price Breaks Key Resistance, Eyes $700 Mark
BNB’s price recently broke through the critical $666 resistance level, a move that has sparked optimism among traders. This breakout formed a classic ascending triangle pattern on daily charts—a well-known bullish signal that often precedes strong upward moves. The Relative Strength Index (RSI) also climbed to around 60, indicating growing buying momentum without yet being overbought.
With BNB now holding above the former resistance at $666, the next target on many traders’ radars is the psychological $700 level. If support holds firmly above $665, this price target could be within reach soon, potentially opening the door to even higher levels like $733, a key technical projection.
Whale Accumulation Signals Confidence Among Big Players
One of the most intriguing factors behind BNB’s strength is the increasing concentration of tokens in the hands of whales. According to Glassnode data, the top 1% of Binance Coin holders control over 99.9% of the circulating supply, a sign of significant accumulation by large investors.
This trend suggests that institutional or high-net-worth investors may be quietly positioning themselves ahead of a bigger price move. Historically, such accumulation phases during consolidation periods have paved the way for major market breakouts.
Network Activity Grows Alongside Price Gains
Supporting the price action is a surge in network activity on the BNB Chain. Daily active addresses recently hit 1.75 million, reflecting growing demand for BNB across decentralized finance (DeFi), staking, and blockchain application use cases.
This increase in on-chain user participation adds fundamental strength to the technical bullish outlook. It indicates that BNB is not only seeing speculative buying but also real-world utility growth, a positive sign for sustained price momentum.
Volume Surge Backs Up Price Breakout
Trading volume surged past $899 million during the recent rally, confirming strong buying interest. Multiple hourly candles turned green, reflecting steady upward price action across short-term time frames.
Such a combination of high volume and an ascending triangle breakout usually signals genuine market conviction. Traders and analysts alike are paying close attention to whether BNB can maintain its breakout above $666 as a new support level.
Technical Analysis: BNB’s Path Toward $733
Analyst Gustavo Maldonado highlighted the confirmed breakout from the ascending triangle, noting that the $665 level now acts as a solid short-term support zone near $640. According to his analysis, BNB’s current bullish momentum aligns with a technical target of $733.
The price has been forming higher lows consistently, a classic sign of strength in an uptrend. Combined with on-chain whale accumulation and growing network activity, the chart patterns suggest that BNB may continue its upward trajectory.
What’s Next for Binance Coin?
If BNB can sustain the current momentum and volume levels, the token could push toward $700 and possibly the $733 resistance zone in the near term. Traders and investors will be watching closely for any signs of weakness or reversal.
Meanwhile, the strong presence of whales and the expansion of daily active addresses provide a solid foundation for price stability and potential growth. As always, market participants remain cautious but optimistic, eager to see if BNB’s recent breakout can translate into sustained gains.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
