Binance Coin (BNB) is showing robust bullish momentum as it flips the $640 level into firm support, positioning the $700 price mark as a probable near-term target. BNB recently broke out from a long-term resistance zone around $640, reversing a historical downtrend and transforming previous supply barriers into new demand zones.
The price briefly tested the $640 support after the breakout, confirming the shift as the buying volume increased, which indicates bulls currently control the market. Open Interest in BNB derivatives climbed to approximately $840 million, reflecting heightened capital inflows and growing trader confidence.
Technical analysts highlight that the next significant resistance for BNB lies at $700, a psychological and technical level backed by a liquidity cluster at $730. The build-up of momentum and solid market participation suggest this target is structurally supported rather than purely speculative.
Additional observations emphasize crucial intermediate support around $656, which BNB has managed to sustain during recent price recoveries, further enhancing market stability. Experts point out that surpassing immediate resistance near $678 is critical for maintaining upward price traction, and historical price behavior suggests breaking such thresholds can lead to more substantial price advances.
Overall, BNB's recent price actions, increased Open Interest, and solid support levels signal strong potential for continued upward movement in both the short and longer term.