TL;DR:
- BNB retests $1,160 amid broader crypto rebound and bullish momentum.
- Technical indicators show diminishing selling pressure and breakout potential.
- CZ’s pardon and new exchange listings add fundamental support for a $1,300 target.
BNB has regained investor confidence, retesting key highs above $1,160, as bulls aim for a potential $1,300 rebound. The altcoin’s performance comes amid a broader crypto market uplift, with Bitcoin trading above $115,000 and analysts highlighting a strong week ahead for risk assets. Gains reflect renewed buyer conviction, with the possibility of significant upward movement if momentum persists.
BNB Eyes Critical Resistance and Technical Upside
Price action around $1,160 demonstrates robust buyer strength. Over the past week, BNB has approached and briefly tested this pivotal supply zone, recording two consecutive green daily closes while seeking a third. A 3% gain in the last 24 hours adds to a nearly 20% rise over the past month. The token has broken higher within an ascending channel, signaling bullish potential for investors targeting the next resistance levels at $1,185 and $1,215.
Technical indicators support the bullish outlook. The Relative Strength Index has climbed from oversold levels below 40 to a neutral 54 on the daily chart, with the four-hour RSI around 65. This divergence indicates diminishing selling pressure, giving bulls room to push prices higher before overbought conditions emerge. A decisive close above $1,160 could validate a breakout, while failure to hold $1,150 might trigger a pullback to $1,100 or $1,080.
Changpeng Zhao’s pardon adds a fundamental catalyst. The Trump pardon of Binance founder CZ not only invigorated BNB but also buoyed the broader crypto market. Zhao, who served a four-month sentence in 2024 for violations tied to anti-money-laundering guidelines, has sparked speculation about his potential return to Binance leadership. Meanwhile, he remains focused on YZi Labs and other ventures, with fresh BNB listings on Coinbase and Robinhood further boosting market optimism.
The $1,160 level now represents a crucial battleground for bulls and bears. With technical strength and favorable catalysts combining, BNB is well-positioned for a test of its all-time highs above $1,300 if current momentum holds, marking a key moment for traders navigating this dynamic market.
