BNB Technical Analysis on July 29, 2025: Will the Bullish Run Continue?

Technical analysis of BNB on July 29, 2025, focusing on support/resistance and indicators.

BNB Technical Analysis on July 29, 2025: Will the Bullish Run Continue? Binance Coin (BNB), the native token of the Binance ecosystem, has cemented itself as a powerhouse in the crypto market. As of July 29, 2025, BNB is trading around $846, up 1.5% in the past 24 hours. This price action has traders buzzing with one question: can BNB keep climbing, or is it due for a breather? Let’s break down the charts, indicators, and market structure to see where this coin might be headed. Market Snapshot and Price Behavior BNB has been on a tear recently, breaking through a key resistance at $830. On the daily chart, it’s moving within an ascending channel, approaching the upper boundary around $850. This level is both psychologically and technically significant. Will buyers push through, or are sellers waiting in the wings? Trading volume has spiked to $2.84 billion in the last 24 hours, signaling strong market interest. High volume often supports trend continuation, but we should watch for signs of exhaustion. Key Support and Resistance Zones To map out BNB’s next move, we need to pinpoint critical support and resistance levels. The main resistance sits between $850 and $860, aligned with the upper Bollinger Band. A breakout above this could propel BNB toward $900 or even $1,000, a major psychological target. On the flip side, if the price stalls, support at $780, coinciding with the 50-day moving average, should hold firm. A stronger support lies at $750, which has acted as a reliable floor in the past. Why do these levels matter? They’re where traders and algorithms typically make big decisions, and volume spikes at these points can signal a trend shift. What Do Technical Indicators Say? Popular indicators like RSI and MACD provide valuable clues. The Relative Strength Index (RSI) on the daily chart is around 78, indicating overbought conditions. This suggests strong momentum but also raises the possibility of a short-term pullback. If RSI pushes above 80, the risk of a correction grows. The MACD remains bullish, with the MACD line above the signal line and a positive histogram. However, a slight narrowing of the histogram could hint at waning momentum. Traders should look for volume confirmation to avoid false signals. Price Pattern Insights On the 4-hour chart, BNB has formed an ascending triangle, a pattern often associated with bullish breakouts. This pattern is backed by rising volume at breakout points. That said, some analysts caution that without strong volume support, this could turn into a trap. Traders should watch for strong candle closes above $850 to confirm the breakout. Fundamental Factors at Play Beyond the charts, fundamentals are driving BNB’s momentum. Binance’s recent token burn, removing $1 billion worth of BNB from circulation, has tightened supply and boosted buying pressure. The growing Binance Smart Chain ecosystem and rising DeFi activity also support demand. However, regulatory news could introduce short-term volatility. Trading Strategy Suggestions For traders, risk management is crucial at these levels. Waiting for a pullback to $780 could offer a lower-risk entry point. Conversely, a confirmed breakout above $850 with high volume might signal a buying opportunity. Either way, setting stop losses is essential to navigate this volatile market. Wrapping Up On July 29, 2025, BNB is riding a strong bullish wave, but the $850 resistance demands caution. Indicators confirm upward momentum, but overbought conditions suggest a possible pause. Traders should monitor key levels, volume, and fundamental news. Can BNB hit $1,000? With careful risk management and patience, you might catch the next big move in this dynamic market.