Binance Coin (BNB) rallied to $780 last week, breaking above its May high of $745 and triggering significant short liquidations. The token has since retraced, but a bullish long-term structure and a positive reaction from a key support zone suggest further gains may be possible.
Binance Coin [BNB] pushed to $780 last week, finally breaking above the $745 swing high it had set in late May. This move invalidated the lower high structure of the token’s bearish trend in 2026, signaling a longer-term shift in market structure.
The rally caused a sizeable amount of short liquidations on its way up, according to liquidation heatmap data. The subsequent retracement has room to move lower, with liquidation data pointing to the next “magnetic” zones at $700 and $670.
On the daily chart, technical indicators remain bullish. The Chaikin Money Flow (CMF) is back above +0.05, the On-Balance Volume (OBV) has climbed over the past two months, and the Relative Strength Index (RSI) is above the neutral 50 mark.
The daily timeframe also highlights the $700 level as a former supply zone that was flipped to support during the early-September rally. This area is now a key near-term support level for the bulls.
On the 4-hour chart, the recent pullback dipped into the Fibonacci “golden pocket” between $697 and $715. The bullish reaction from this zone in recent days signals buyer conviction, though this strength is not yet reflected in the CMF or OBV indicators.
A breakdown below $697 would be the first sign of trouble for the buyers. A deeper drop below $674 would shift the 4-hour structure bearishly and invalidate the current bullish idea, potentially opening the door for a retracement to the $589-$630 range.
Provided Bitcoin [BTC] does not experience a massive sell-off, the current price action suggests bullish momentum remains intact. Based on the weekly chart, the next higher timeframe price targets are located at $950-$960, with the $1,000 mark serving as a key psychological resistance level.
