Binance Coin Technical Analysis: Market Outlook on June 4, 2025

Technical analysis of BNB on June 4, 2025, exploring resistance, support, and indicators

On June 4, 2025, Binance Coin (BNB) is trading within a range of $710 to $750, with the market in a consolidation phase with a bullish bias. Technical analysis on the daily timeframe indicates the formation of an ascending triangle pattern, typically a bullish pattern, but it requires confirmation of a resistance breakout. The price recently tested the $750 resistance but failed to break through with significant volume, reflecting trader caution. **Key Resistance and Support Levels** Key resistance levels are currently around $750 and $780. The $750 level is significant due to prior price reactions and candle congestion. A breakout above this level could target $780, potentially opening the path to $800. On the downside, key support levels are at $700, $680, and $650. The $700 level, a short-term support, has been tested multiple times, and a break below it could lead to a correction toward $680. **Indicator Analysis** The RSI on the daily timeframe is at 58, indicating neutral conditions with a bullish bias, suggesting positive but not overly strong momentum. The MACD shows signs of a bullish crossover, which could signal an upward move in the near future. The 50-day and 200-day moving averages are converging near $710, which could act as a pivotal point. If the price remains above this level, the likelihood of an uptrend increases. **Price Pattern Analysis** The ascending triangle pattern on the daily chart indicates price compression. A breakout above this pattern could generate a strong bullish signal, while a breakdown might lead to a short-term correction. A pin bar candle near the $750 resistance suggests buyers are attempting to overcome sellers. A volume spike during a breakout could confirm the direction of the move. **Market and Fundamental Factors** Increased trading volume on the Binance exchange and ongoing development of the Binance Smart Chain (BSC) ecosystem are supportive of BNB’s price. Additionally, growing demand for BNB ETFs and the expansion of DeFi and NFT projects on BSC bolster investor confidence. However, broader crypto market volatility and BNB’s correlation with Bitcoin could amplify selling pressure. BNB’s dominance in the crypto market, at around 3%, reflects its strong position. **Outlook and Strategy** In the short term, BNB is likely to remain in a $700 to $750 range unless a high-volume breakout occurs. Traders should wait for confirmation of a breakout above $750 or consolidation at support levels. For long-term investors, buying at support levels, particularly around $680, with proper risk management, could be appealing, as BNB has the potential to reach $1,000 by the end of 2025. In conclusion, BNB is currently in a consolidation phase with a bullish bias, but technical and fundamental signals suggest strong upside potential if key resistances are overcome.