Binance Coin [BNB] Shows Renewed Strength After Holding Firm Above the $500 Support Level

Binance Coin’s [BNB] showed renewed strength after holding firm above the $500 support level. That floor held strong.

Binance Coin’s [BNB] price showed renewed strength after holding firm above the $500 support level.

This price level saw three rejections, which eventually led to a bullish breakout above the supply zone around the common round-number psychological level of $640.

After the breakout, BNB pulled back to retest the $640 zone. However, instead of breaking down, the price set new support, confirming the role reversal from supply to support.

In fact, the retest drew in stronger buying volume, which signaled that the bulls were not only present but also in control at this point.

With $640 now defended, higher price targets are no longer speculative—they’re probable.

Next price target and liquidity at $730

The next target that is so obviously in sight is at the $700 level. It’s not just a psychological level; it’s also a stepping stone to a liquidity cluster at $730. Prices usually push to such liquidity clusters, especially when momentum is building up.

BNB traders appear to be setting their sights on this unmitigated spot, and as such, the move up towards $700 could be more than speculative—it could be structurally backed.

To further enhance the bullish narrative, Open Interest jumped over 10% to hit $840 million at press time. The rise shows higher capital inflows into derivatives, meaning increased market confidence.

Growing Open Interest is known to fuel volatility and trend extension, especially if combined with a solid technical setup like BNB’s recent breakout.

Overall, BNB is currently basking in a wave of bullish momentum fueled by technical developments and market participation.

If the trend sustains, $700 could be the next important hurdle, one which hopefully will be short-lived, considering the untapped liquidity above $730.