BNB has surged more than 5% with a high trading volume following a 90% drop in Binance Chain Gas Fees. Is $700 BNB’s next target?
BNB coin has surged 5.80% with a 26.22% increase in trading volume in the past 24 hours, at press time, per CoinMarketCap. This follows a 90% slash in Binance Chain gas fees from 1 gwei to 0.1 gwei. CZ’s approved proposal on reducing gas fees could catalyze the BNB price uptrend to $700 and the psychological $1000 mark.
Source: CoinMarketCap
BNB’s Open Interest has risen 6.27%, with the 24-hour long-to-short ratio at 1.05. As the Relative Strength Index (RSI) hits 71 (overbought zone), BNB could face a price pullback following a sharp bullish rally. However, the short-term, medium-term, and long-term moving averages flash “strong buy” at press time.
Analysts have predicted that the breakout above the $634-$644 key resistance zone could see the coin rally towards $700 in the next few days, while targeting $1000 in the long run. Investors signal renewed optimism following this development on the Binance chain. If the bullish momentum holds, BNB’s rally to $1000 could be due soon.
Ethereum remains the top blockchain in activity and revenue as of Q1 2025, while Layer-2s and altchains catch up.
Blockchain utility is on the rise as countries around the globe strive for clearer regulatory measures. As a result, blockchain technology is finding utility in various aspects of the global economy, as traditional financial institutions and businesses adopt it. Decentralized applications (Dapps) and blockchain services are on demand, and builders have been quite busy in the past three months.
According to Token terminal data, Ethereum dapps have topped in blockchain revenue for Q1, 2025, with the network raking in $1.014 billion in fees.
Source: Token Terminal
Base Dapps secured the 2nd position with $193 million, while BNB Chain came in third with $170 million. Arbitrum hit $73.8 million, and Avalanche C-chain closed the top 5 list with $27.68 million.
Base, a layer-2 chain backed by Coinbase, aims to decentralize over time according to its documents. It has seen significant growth, surpassing BNB Chain for the second position as of Q1 2025.
BNB is currently trading near a critical support zone of $560-$570, a decisive area that could determine its next major move. If the price drops below $542 and confirms a breakdown, we could see further declines toward $500-$490.
BNB Key Levels to Watch
🔹 Major Support Zone: $560-$570
🔹 Breakdown Level: Below $542 → Potential downside targets $500-$490
🔹 Immediate Resistance Levels:
R1: $635
R2: $675
R3: $730
If BNB breaks above R1 ($635) with strong volume and sustains the breakout, further upside movement toward R2 ($675) and R3 ($730) is likely.
Technical Indicators & Market Sentiment for BNB
1. Trendline & Price Action
🔸 BNB remains in a bearish structure, trading below a strong descending trendline.
🔸 Sellers control the market unless BNB breaks above this trendline resistance.
🔹 Current RSI: 50.02 (Neither overbought nor oversold – neutral sentiment).
🔹 If RSI rises above 60, it could indicate bullish momentum.
🔹 If RSI drops below 40, it may trigger increased selling pressure and a potential breakdown.
3. Volume Confirmation – Key for a Strong BNB Trading Signal
🔸 A breakout above resistance requires strong volume confirmation.
🔸 If BNB falls below $542 with high volume, it could confirm a bearish continuation.
BNB Market Outlook: What’s Next?
Bearish Scenario
🔻 If BNB closes below $542, expect a drop to $500-$490.
🔻 The downtrend remains intact unless a breakout above key resistance levels occurs.
Bullish Scenario
✅ If BNB holds above $570 and breaks R1 ($635) with strong volume, a bullish push is possible.
✅ A breakout above R2 ($675) and R3 ($730) would confirm a trend reversal.
Conclusion: Trade with Caution & Watch for a Strong BNB Trading Signal
Currently, BNB leans bearish, with descending trendline resistance and key support levels in focus.
📉 Short traders: A confirmed break below $542 could offer shorting opportunities, targeting $500-$490.
📈 Bullish traders: A confirmed breakout above $635 with strong volume could signal a trend reversal.
⚠ Monitor price action, volume, and key technical levels to confirm the next BNB trading signal.
