The Binance Coin (BNB) price has held steady above $640 for several sessions, but recent movements show signs of fatigue. Analyzing TradingView charts on hourly and daily timeframes reveals BNB consolidating after its strong rally, with technical levels hinting at an imminent decision.
BNB Price Prediction: Loss of Momentum or Temporary Pause?
Hourly Chart Analysis (BNB/USD)
- Current price: $640.2 (flat at +0.02%).
- Key resistance zone: $646–$652, where the 50, 100, and 200 Simple Moving Averages (SMAs) converge.
- Bearish crossover observed: Short-term SMAs failing to surpass long-term ones signals selling pressure.
- Heikin Ashi candles show small bodies with dual wicks, indicating indecision.
Fibonacci Retracement Levels (from $660 high to $620 low):
- 23.6%: ~$630
- 50%: ~$640 (current pivot)
- 61.8%: ~$646
👉 [Critical support lies at $620](https://www.okx.com/join/BLOCKSTAR), while a break above $646 could reignite bullish momentum.
Daily Chart Insights
- SMAs alignment: 20 SMA ($629.4) > 50 SMA ($606.3) > 100 SMA ($613.1) > 200 SMA ($619.2) — typical bullish structure.
- Resistance at $645–$650 (0.382 Fibonacci level from March high to April low).
- Recent candles show smaller bodies and lower highs, suggesting exhaustion.
Bull Flag Scenario:
- Pole height: $660 (high) – $580 (base) = $80
- Breakout target: $640 + $80 = **$720** (achievable only with a clear close above $660 on strong volume).
BNB Price Forecast: Key Scenarios
Bullish Case:
- Break above $660 → Targets $700–$720.
- Sustained volume and macro catalysts (e.g., Bitcoin momentum) needed.
Bearish Rejection:
- Drop below $640 → Tests $620 support, then $613 (100-day SMA).
Trading Strategy
- Watch $660 for breakout confirmation.
- Defend $620 to avoid deeper correction.
- Hourly bearish signals vs. daily bullish setup = High volatility ahead.
👉 Monitor Bitcoin trends for directional cues.
FAQ Section
1. What’s driving BNB’s current price action?
BNB is consolidating after a May rally, balancing between short-term profit-taking and long-term bullish trends. Bitcoin’s movement and broader crypto sentiment are pivotal.
2. Is $720 a realistic target for BNB?
Yes, if the bull flag pattern completes with a breakout above $660. The $720 target derives from the flag’s measured move.
3. What’s the worst-case scenario?
A breakdown below $620 could see BNB slide toward $600, especially if Bitcoin faces selling pressure.
4. How reliable are Fibonacci levels here?
The 50% Fib ($640) acts as a pivot, while the 61.8% ($646) aligns with resistance. These are critical for intraday traders.
5. Should long-term holders worry?
Not immediately. The daily SMA stack supports a bullish outlook, but monitor $613–$620 for weakness.
6. What’s the best entry point?
For low-risk entries:
- Breakout traders: Wait for $660+ with volume.
- Dip buyers: $620–$630 with tight stops.
Final Thoughts:
BNB’s next 48 hours are decisive. A hold above $640 keeps the $720 target alive, while failure may trigger a retreat to $600. Trade with clear risk management.