Binance Coin Technical Analysis: Market Outlook on July 9, 2025

Technical analysis of BNB on July 9, 2025, exploring key support/resistance and indicators.

As of July 9, 2025, Binance Coin (BNB) is trading around $688, maintaining a strong bullish trend. Analyzing the daily timeframe chart, BNB has recently broken above a key resistance level at $670 after consolidating between $620 and $670. This breakout was accompanied by a significant increase in trading volume, indicating new buyer interest. The next resistance zone lies around $710 to $720, which has historically acted as a strong barrier. Technical analysis shows that BNB is moving within an ascending channel. The channel’s midline at around $660 has served as dynamic support, with the price recently bouncing from this level. The primary support zone lies between $645 and $655, aligning with the 23.6% Fibonacci retracement level. This zone has previously acted as a strong demand area and could prevent further declines if a correction occurs. The RSI indicator on the daily timeframe is around 62, indicating bullish conditions. This suggests the market is not yet overbought, leaving room for further growth. The MACD indicator showed a bullish crossover in recent days, supporting the potential for continued upward movement. Trading volume has increased recently, signaling strengthening bullish momentum. Sustained higher volume is needed to confirm the breakout above $670 and prevent a pullback below this level. If the price stabilizes above $670, the next target could be the $780 to $820 range. From a price pattern perspective, a bullish pennant pattern is visible on the 4-hour timeframe, suggesting potential for continued upward movement. This pattern formed after a sharp rally followed by consolidation. A breakout above the upper trendline of this pennant could target prices between $780 and $800. However, risks remain. If BNB fails to stabilize above $670, a pullback toward the $645 support zone is possible. Fundamental factors, such as BNB network upgrades, increased activity in the Binance ecosystem, and ETF inflows, could also influence price action. Traders should employ proper risk management strategies. Overall, BNB’s current outlook is bullish, but traders should closely monitor volume changes and price behavior around the $720 resistance zone.