Binance Coin (BNB) is showing an encouraging upward trajectory, fueled by a combination of bullish technical signals across both short- and long-term charts. Recent price action has maintained itself within a relatively narrow range, reflecting resilience amidst broader market fluctuations.
Over the 24 hours leading up to July 1, 2025, BNB demonstrated a modest gain of 1.01%, closing at $654.51. Technical indicators suggest that the cryptocurrency is undergoing a bullish transformation, bolstered by favorable divergence patterns, rising indicators, and a trend of long-position liquidations. This positioning sets the tone for a strong quarter ahead, inviting optimism among traders.
Divergence Patterns Highlight Trend Continuation
A noteworthy aspect of BNB’s recent performance is the hidden bullish divergence identified on the 1-hour chart, as announced by @WhiteboxTrading on X. This divergence emerged when BNB’s price formed a higher low, while the Relative Strength Index (RSI) indicated a lower low. Such divergences are often interpreted as confirmations that an existing trend—here, the upward momentum—may persist.
Immediately following this divergence signal, BNB’s price surged, validating the predictive value of the signal. Prior to this, a regular bearish divergence had taken place, signaling weakening momentum that led to a brief consolidation period before renewed buying interest reasserted itself.
Additional hidden bullish divergences observed on June 26 and June 29 further cemented the upward trend. These patterns empowered BNB to break through short-term resistance, reaching a peak of $656, and solidifying its bullish continuation structure.
Market Metrics Support Short-Term Strength
Market metrics from Brave New Coin indicate that BNB currently holds a market capitalization of approximately $95.5 billion, with a circulating supply of around 145.9 million tokens. The past 24 hours showcased relatively low volatility, with price fluctuations confined between $652 and $658.
Daily trading volume was approximately $453.76 million, spiking to $743.83 million during a brief rally on June 30. This uptick in volume accompanied a price movement that flirted with the $658 mark before settling back at $654.51, suggesting possible profit-taking behavior from investors concerned about imminent resistance.
On June 30, BNB’s price action began at around $654, gradually rising to $656, before retreating to intraday lows around $652, only to rebound and approach $658 as the session closed. These movements indicate a consolidation trend within a bullish framework, backed by consistent trading volumes and sustained buyer interest.
Moreover, a recent update from @cryptozone_x on X pointed out that substantial short positions were closed at $657.00 on Bybit, totaling approximately $91,330 in buying activity. The occurrence of liquidation events often suggests robust momentum, as it indicates that the price action is forcing short sellers to cover their positions, thereby amplifying upward pressure.
Technical Indicators Point Toward Potential Breakout
A glance at the daily chart reveals a closing price of $656.91 for BNB on June 30, reflecting a 0.31% gain. The asset peaked at $660.00 and hit a low of $651.17, illustrating limited volatility but maintaining a positive bias. Notably, BNB has been consolidating since May, following a more comprehensive recovery that began in March.
Despite market hesitancy, BNB remains within a broad historical range, previously encapsulated between $745.29 (high) and $500 (low). This range-bound nature signifies a moment of indecision; however, growing bullish indicators are surfacing as the market reevaluates its next move.
Utilizing the Bollinger Band Power (BBP) indicator, which currently reads at a positive 16.67, hints at a shift in momentum. Earlier in the year, BBP had remained negative, particularly during volatile phases in February and March when BNB lingered below the lower Bollinger Band. The recent shift to positive territory signifies accumulating strength within its range, although BNB has yet to reach overbought levels. Sustained green bars in the BBP histogram could herald increased buying interest, especially if accompanied by robust volume support and a breach of local resistance.
As it stands, the Relative Strength Index (RSI) is positioned at 55.30, with its moving average at 46.75. This current positioning underscores a strengthening asset that has yet to show signs of overextension. An RSI above its moving average is often interpreted as a bullish signal, particularly when price action remains stable or exhibits upward trends.
With BNB price predictions trading near resistance and displaying strong RSI levels, the potential for a breakout remains firmly on the horizon, presuming favorable market conditions persist.
