BNB is attempting to reclaim the $650 level. Analysts believe that a breakout toward the $700 barrier might occur next, which could lead to a bigger move to new highs.

BNB Price Eyes $730 Target After ATH Rally Attempt

Amidst market fluctuations, BNB is setting its sights on reclaiming the $650 level. Could a surge past $700 be the key to unlocking a new all-time high?

BNB's Breakout Attempt

After a recent dip to the $640 support level, BNB is battling to regain its footing. The cryptocurrency has been navigating between $630 and $690 since bouncing back from the $600 mark last month. Remember that near-$700 test we saw back in May? It's like BNB is trying to recapture that momentum after hitting a four-month high of $697.

Analyst's Take: Descending Triangle and Ascending Hopes

Carl Runefelt from The Moon Show points out a descending triangle pattern forming on the daily timeframe, suggesting a potential 10% jump toward the $700 resistance if BNB breaks out. Crypto Batman highlights an ascending triangle, noting BNB's resilience near the ascending trendline. He's eyeing a breakout above $700, potentially paving the way to $800. It's like watching a coiled spring, ready to release!

Deja Vu? Echoes of 2024

Crypto Batman draws parallels to BNB's price action last year. Remember that three-month base around $460-$470 that led to an explosive run? BNB seems to be forming a similar base near the $550 level this year. If history repeats itself, we could be in for another exciting ride. Even with those early April jitters, BNB held its ground above key support levels, which is always a good sign.

The $730 Target and Beyond

Currently consolidating near the mid-zone, BNB could be gearing up to retest the macro range highs around $729. A breakout above this resistance could trigger a 50% surge, according to analysts. As long as BNB holds above the $490-$500 range (with $600 as solid support), the bullish outlook remains intact.

Current Market Position

As of now, BNB is trading around $641, down 2.9% for the week. But hey, in the world of crypto, things can change in a heartbeat! Keep an eye on that $700 mark – it could be the key to unlocking BNB's next big move.

Final Thoughts

Will BNB conquer the $730 target and reach for new all-time highs? Only time will tell, but the analysts seem optimistic. So buckle up, crypto enthusiasts, it could be a bumpy but rewarding ride!