- BNB broke through the most important resistance levels and positioned itself to focus on $ 720.
- Rising social dominance, bullish indicators and derivative data signaled a continued upward momentum for BNB.
Binance currency [BNB] shows an impressive bullish momentum, breaking through multiple resistance levels and reaching new highlights.
At the time of the press, BNB acts at $ 700.48, an increase of 8.89% in the last 24 hours. However, the big question remains: can this momentum continue and push the currency further to the $ 720 level?
Breaking resistance levels: Is BNB ready to rise?
The performance of Binance Coin in recent days have demonstrated impressive strength because it has violated the most important resistance levels. After his outbreak of the falling trendline, Binance Coin moved past important price barriers, such as $ 678 and $ 660.
That is why BNB is now looking at the next resistance zone at around $ 720.
If BNB manages to erase this obstacle, this can ignite a new wave of Bullish Momentum, which pushes it to even higher goals. This price action suggests that the currency is well positioned for further growth, especially if it can retain above $ 700.
Source: TradingView
How does BNB’s social dominance influence his meeting?
Moreover, the rising social dominance provides further fuel for its rally. The metric has risen to 1.74%, indicating a growing interest in the coin.
Social dominance often correlates with an increased trading volume and more market participation, which can drive the price further up. As a result, De Boost in Social Klets about Binance Coin will probably contribute positively to its continuous upward movement.
That is why growing attention on social platforms could help support this bullish trend, which pushes BNB to $ 720 resistance.
Source: Santiment
Technical indicators: Bullish signals from RSI and MA Cross
Looking at the technical indicators, the prospects of BNB Bullish remains. At the time of writing, the relative strength index (RSI) was at 62.69, indicating that the coin is approaching, but still has room for growth.
Moreover, the advancing averages (MA) have recently crossed at 9 and 21 periods, which indicates a continuous upward impulse. The 9-day MA is at $ 623.1, while the 21-day MA is at $ 641.3.
Both confirm the bullish trend. These technical signals indicate further upward potential for BNB in the short term.
Source: TradingView
Derivate data: Volume and Open Interest Surge
The data from the derivatives for BNB also support the bullish outlook. The volume has risen by 170.02%, reached to $ 3,52 billion, and the open interest rate has risen by 32.97%, now at $ 1.03 billion.
Moreover, the option volume has increased by 276.75%, which reflects a representation of increased market activity. These figures indicate that positioners position for more upward movement, which could continue the price of $ BNB.
Source: Coinglass
Conclusion: will BNB reach $ 720?
Given the strong price action, the increase in social dominance, bullish technical indicators and growing derivative data, it is likely that BNB will continue his upward process.
Read Binance Coin’s [BNB] Price forecast 2025–2026
The outbreak above the falling trend line is the stage for further growth, and the next key resistance around $ 720 remains an important target.
That is why BNB is positioned to keep his Bullish Momentum and possibly surpass $ 720 soon.