Will BNB reach $680? Check out the potential breakout according to this analyst! (7/3/25)

Updated

March 7, 2025

Gambar Will BNB reach $680? Check out the potential breakout according to this analyst! (7/3/25)

Jakarta, Pintu News – The crypto market has recently experienced significant fluctuations, with Binance Coin showing better resilience than some other altcoins. Despite Bitcoin and Ethereum experiencing sharp declines, BNB seems to have the potential to reach new resistance in the $680 range. The following analysis will dig deeper into the market dynamics affecting BNB.

Strong Defense at $534, Is $680 the Next Target?

Despite strong bearish pressure, the $534 support level for Binance Coin (BNB) was successfully maintained. However, there are doubts that BNB can break the $700 level in the near future. In the current market conditions, where Bitcoin (BTC) and Ethereum (ETH) experienced their biggest declines in ten years in February, the general market sentiment is still very cautious.

Altcoins as a whole were hit harder than Bitcoin (BTC). On a volatile Monday, Binance Coin (BNB) fell by 12.42%, which is still better than the 19.73% drop experienced by Ethereum (ETH). This suggests that BNB may have some strength relative to other altcoins in the face of selling pressure.

Also Read: The Burning of 20 Million SHIBs: Will Shiba Inu Prices Skyrocket? (7/3/25)

Technical Analysis Shows Opportunities

From a technical perspective, there are a few key levels that Binance Coin (BNB) traders should keep an eye on. Major resistance sits at $721, while strong support lies at $534. The zone between $620 and $640 has served as a significant area of resistance and support, although its importance has diminished since last December and January.

The Relative Strength Index (RSI) indicator showed a declining momentum as the RSI value was below 50 during the last month. Meanwhile, the On-Balance Volume (OBV) is also showing a decline, signaling a withdrawal from the market. However, if BNB can cross $620 and retest it as support, it could be a good buying opportunity.

HODL Behavior and Uptrend Potential

Fees Wooden Blocks On Increasing Coins Stacks

Analysis of the HODL wave showed that there was profit-taking activity when Binance Coin (BNB) reached $600 in the second half of 2024. However, in the past three months, the wave has shown a resurgence of HODL behavior. This could be an indicator that BNB may be about to experience a new uptrend.

The question that arises is whether this will trigger a new uptrend for BNB. With strong defenses at support levels and the potential to test higher resistances, BNB may be in a good position to capitalize on changes in market sentiment.

Conclusion: BNB as a Potential Upside Asset

Considering the current market dynamics and technical analysis, Binance Coin (BNB) seems to be more stable than some other altcoins. Although the overall market is still not fully recovered, BNB is showing some encouraging signs that could interest investors.

As a rangebound asset, the opportunity to buy on a break above $620 and a retest as support could be a wise strategy.

Also Read: Litecoin (LTC) Hit a Record High, Will the Price Surge? (7/3/25)

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.