The post BNB Price Tests $700 Resistance Amid Token Burn and Rising Active Addresses, Possible Breakout Ahead appeared on BitcoinEthereumNews.com.

Binance Coin (BNB) is currently testing a critical resistance level near $700, signaling a potential breakout driven by recent token burns and increased network activity. After consolidating within a range of $630 to $690 since May, BNB’s price action suggests an ascending triangle formation, a bullish pattern that often precedes upward momentum. According to COINOTAG, “The 32nd quarterly token burn, removing 1.59 million BNB, combined with rising active addresses, underpins a strong scarcity and demand dynamic for BNB.” BNB approaches $700 resistance amid token burns and rising active addresses, setting the stage for a potential breakout toward $745 in the near term. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); BNB Price Consolidation and Ascending Triangle Formation Indicate Potential Breakout Since early May, Binance Coin has maintained a trading range between approximately $630 and $690, with a notable dip to $600 on June 23 that quickly recovered, reaffirming the ascending triangle pattern. This pattern is characterized by a flat horizontal resistance near $685 to $700 and an upward sloping trendline providing support. The recent price action, with BNB testing the $700 resistance level and reaching intraday highs of $695, suggests a buildup of bullish momentum. Traders and investors closely watch this zone, as a decisive breakout above $700 could signal a new leg higher. Impact of Token Burns and Network Activity on BNB’s Supply Dynamics The 32nd quarterly token…

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Filed under: News - @ July 11, 2025 10:28 am