The post BNB Price Bulls Gain Momentum, Breakout Looks Imminent appeared on BitcoinEthereumNews.com.

After weeks of sideways trading, BNB price is showing signs of renewed strength. A breakout above the symmetrical triangle pattern and a confirmed double-bottom formation suggest that bullish momentum is building. On-chain data, technical signals, and network activity point toward an upward price trend. Traders and analysts are closely watching the $644 to $650 range as BNB edges closer to a new potential all-time high. BNB Price Symmetrical Triangle Breakout and Technical Confirmation BNB recently broke above the upper trendline of a long-standing symmetrical triangle pattern on the daily chart. This breakout was followed by a successful retest, where the previous resistance turned into support. The move confirmed a bullish structure and pushed the price to test the $644 resistance area. A double-bottom pattern has also emerged, further strengthening the bullish setup. The neckline of this pattern is located near $644. If BNB breaks above this level, technical projections suggest a price target of approximately $732. This move would mark a continuation of the current trend and open the door for a potential rally toward $1,000. Source: TradingView Several indicators support the positive outlook. The Awesome Oscillator (AO) has shifted to green bars, and the MACD is showing growing bullish divergence. These indicators suggest a rise in buying interest and a reduction in bearish control over the market. Binance Chain Fee Drop Spurs Network Activity A recent proposal by Binance founder Changpeng Zhao to reduce gas fees on the Binance Chain has led to major cost changes. Gas fees have dropped from 1 gwei to 0.1 gwei, resulting in a 90% reduction. This move was implemented just days after Zhao’s suggestion to cut fees by 3x or 10x. Following the fee reduction, network usage on the Binance Chain has increased. Data from BSC Scan and DeFiLlama shows a rise in…

---

Filed under: News - @ May 11, 2025 4:30 pm