Binance Coin Price Prediction: BNB Rebounds From Falling Wedge as Bulls Target $850

Binance Coin (BNB) is regaining traction after testing key support levels near $796.

The token rebounded from a falling wedge pattern, suggesting a potential upside move. Chart signals from analysts now hint at a possible breakout continuation above $820. At the time of writing, BNB is trading at $809.50, with momentum indicators favoring the bulls.

Bullish Wedge Structure Reinforces Short-Term Recovery

The 1-hour BNB/USDT chart shared by analyst @ChristiaanDefi reveals a classic falling wedge formation, typically seen as a bullish reversal pattern. BNB had retraced from its recent high of $862.58 and respected the descending wedge’s boundaries during its pullback.

Price touched the lower trendline near the $796.92 support level multiple times without breaching it, indicating a potential exhaustion of selling pressure.

Source: X

A notable reaction near the bottom of the wedge has sparked a renewed push toward the upper resistance line. The price structure suggests that if BNB breaks above the descending trendline with confirmation, it could initiate a measured move toward the previous high.

Projected resistance levels along this path lie near $820, $835, and $850. This upward projection aligns with the wedge’s breakout potential, a common behavior that occurs when consolidation patterns are resolved in favor of the prevailing macro trend.

24-Hour Price Action Shows Recovery From Dip

The 24-hour price chart for BNB from July 30 to July 31 captures a sharp decline followed by a steady rebound. BNB dropped from approximately $805 to an intraday low of $780 before recovering later in the session. The initial fall may have been influenced by broader market movements or profit-taking near recent highs. However, the response near the $780 level marked a zone of interest, as buyers stepped in to absorb the sell-off.

Source: BraveNewCoin

Following the dip, the price moved higher in successive waves, forming higher lows and higher highs throughout the day. This recovery was gradual and sustained, reflecting confidence in the support structure. Trading volume during the session reached $1.45 billion, showing consistent market participation. Despite closing at $795.81, down 1.59%, the rebound from the intraday low suggests a market attempting to stabilize around key zones.

At the Time of Writing, Indicators Support a Cautious Uptrend

At the time of writing, BNB trades at $809.50, up 2.02% on the day. The daily TradingView chart shows the asset attempting to resume its bullish momentum after a modest correction. The recent rally from late June lifted BNB from below $600 to above $800, with buyers now appearing near $790. This zone has served as a temporary floor during the recent pullback.

Source: TradingView

Technical indicators support the possibility of continued upside. The MACD line (36.10) is above the signal line (33.82), and the histogram reads 2.28, reflecting ongoing buying pressure. Meanwhile, the RSI sits at 67.36, approaching the overbought zone. While the RSI trend supports bullish sentiment, caution is advised as any move above 70 may signal an overheated market. Holding the $790–$800 zone remains key for sustaining bullish pressure and pushing toward the $850 mark.