TLDR:
- BNB forms a symmetrical triangle with tightening price action near $660 resistance.
- A break above $670 could trigger rally, with targets at $664 and $667.59.
- Daily volume near $708M suggests steady trader interest in upcoming move.
- Triangle breakout may impact Binance ecosystem and broader crypto sentiment.
Binance Coin (BNB) is showing signs of a potential breakout as its price consolidates within a tightening triangle formation.
After recent price fluctuations, the token is now testing a key resistance range between $660 and $670. Traders and analysts are closely watching this zone, as a decisive move could trigger a strong upward trend. As the primary token of the Binance ecosystem, BNB’s activity often reflects broader sentiment within the crypto market.
Rising volume and buyer strength could fuel the next rally if resistance fails to hold.
BNB Symmetrical Triangle Points to Imminent Move
On the daily chart, BNB appears to be forming a symmetrical triangle, a pattern known for signaling upcoming breakouts.
The price has steadily moved closer to the upper trendline, currently positioned between $660 and $670. Analysts view this as a key point where the market may decide its direction.
BNB coiling up for a big move!
This daily chart shows a symmetrical triangle forming, with price testing the upper resistance around $660 – $670.
As the backbone of the vast Binance ecosystem and BNB Chain, BNB's utility is undeniable.
A breakout here could lead to a… pic.twitter.com/7uAQWtgsTx
— FOUR | Crypto Spaces (@X_Four_iv) July 8, 2025
According to a chart shared by FOUR | Crypto Spaces, higher lows have formed at the base, reflecting growing bullish pressure.
If BNB breaks above the resistance level, the triangle’s completion could lead to a sharp rally. However, traders are watching volume closely, as a breakout without strong momentum may not hold.
BNB recently bounced off the $657.50 demand zone after a brief drop below mid-range support.
Crypto Master 786, a market observer on X, noted that this swift recovery and retest is a bullish sign. The reclaim of this zone has boosted short-term confidence, as buyers continue defending the support area.
The ongoing consolidation near resistance is also interpreted as strength. Price action has remained within the $660 to $662 region, where bulls have continued to engage. If BNB pushes past $662 on volume, it could ignite a fresh leg toward higher levels.
$BNB /USDT – Strong Rejection Recovery & Bullish Retest in Play!
Current Price: $660.77 (+0.12%)$BNB is recovering after a clean bounce off the $657.50 demand zone. The price previously broke below the mid-range support but swiftly reclaimed it, showing that buyers are… pic.twitter.com/fLZpewldGJ— Crypto Master 786 (@CryptoMaster_07) July 8, 2025
BNB Trade Setup Offers Clear Entry Signals
With the price hovering near the breakout zone, traders have begun to map out potential trade setups.
Current entry points lie between $660.00 and $660.80, with upside targets at $664.00 and $667.59. A stop loss below $657.59 has been suggested by analysts as protection against downside risk.
This setup reflects a classic mid-range reclaim strategy. If price maintains support and breaks resistance, the reward-to-risk ratio favors bulls. The market now awaits confirmation of direction through either a breakout or rejection.
As the Binance Coin holds steady around $660.69, market participants are watching for a strong reaction. Volume remains a key metric for confirming any breakout move.
The token’s 24-hour trading volume sits near $708 million, signaling steady interest.
With BNB acting as the foundation of the Binance platform and BNB Chain, any major movement could ripple across the wider crypto space. A confirmed breakout could attract further momentum, opening the door for extended gains in the days ahead.
The post Binance Coin (BNB) Chart Forms Classic Triangle Setup: Is a Sharp Move Imminent? appeared first on Blockonomi.
Source: https://blockonomi.com/binance-coin-bnb-chart-forms-classic-triangle-setup-is-a-sharp-move-imminent/