BNB has once again overtaken XRP in market capitalization after reclaiming the $91 billion mark, signaling growing strength within the Binance ecosystem. The token has maintained a steady bullish structure over the past few days and is now approaching a crucial resistance zone. While most large-cap altcoins continue to struggle below key levels, the BNB price has remained relatively stable, reflecting sustained buying interest and stronger market confidence.
With the momentum gradually building, traders are now watching whether the price can finally break above $700 and trigger a fresh leg higher.
The weekly chart suggests BNB is gradually recovering after defending the long-term ascending trendline support near the $600 range. The price is now approaching a crucial resistance zone between $700 and $744, which previously acted as a strong rejection area during the earlier correction phase.
Despite the broader market volatility, BNB continues to maintain a higher-low structure on the higher timeframe, indicating the long-term bullish trend remains intact. The recent rebound also hints at weakening selling pressure as bullish momentum slowly returns to the market. Besides, the weekly MACD has undergone a bullish crossover, while the RSI is increasing, suggesting that bulls are in control.
Overall, the current price structure suggests BNB is well-positioned to reclaim the $700 level as the token continues to hold above crucial higher-timeframe support zones. However, the real breakout lies near the $744 zone, and if the rally clears this range, the BNB price may continue to test a higher range. Besides, a rejection may keep the token consolidating below the breakout range for a longer period.
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