BNB Price Hits $804 After Breaking Multi-Month Resistance Trendline

Binance Coin (BNB) is drawing market attention after breaking above a key trendline and reaching the $800 level, a move that signals renewed bullish momentum.  The breakout, initially predicted in early May, has resulted in a sharp rally of over 47%, placing BNB among the top-performing altcoins this cycle.

Analysts CRYPTOWZRD and Mercury agree that the breakout confirms a new phase of price discovery, supported by strong technicals and rising volume. With $800 acting as a critical support zone, projections now point to $910 and possibly $1,100 if momentum sustains. BNB’s breakout reflects growing investor confidence and bullish sentiment in high-cap altcoins.

Binance Coin (BNB) Price has moved into a new technical phase following its recent breakout above a long-standing resistance trendline. After months of trading within a compressed range, the Binance price has now surpassed the $800 mark.

This movement follows a breakout from a descending trendline that had been in place since late 2024, marking a new directional shift in BNB’s price action.

The breakout coincides with an earlier forecast by analyst CRYPTOWZRD, who cited May 4 as the start of this breakout zone. Since then, BNB price has delivered a gain of over 47%, moving beyond the $800 region. As of July 30, BNB is trading at $804.55 following a mild retracement of 2.96% in the past 24 hours.

CRYPTOWZRD noted that the breakout may establish $800 as a short-term support level. The analyst projected that if price stability above this level is maintained, BNB could soon test $910. This would be the next key area for traders observing the strength of the current trend.

Source:X

The forecast also outlines a second possible target of $1,100. This projection follows a continuation model in which price discovery advances once primary resistance levels have been invalidated. A sustained hold above $800 is viewed as essential for this next move to materialize, particularly as market participants look for follow-through confirmation.

Another chart review by analyst Mercury describes BNB’s move as a breakout from a prolonged 506-day consolidation pattern. This multi-month range limited BNB price movement and kept the asset within a defined accumulation structure. The recent breakout signals a change in behavior, with the coin entering an upward trending phase.

Source:X

The analyst also observes a local uptrend supported by rising moving averages. This suggests momentum has shifted in favor of buyers, aligning with the broader performance of select large-cap altcoins. With the BNB price no longer confined by previous resistance bands, the move may trigger further technical repositioning by market participants seeking high-liquidity trades.

Despite recent gains, BNB experienced a 2.96% dip in the last 24 hours, bringing the price to $804.55. The session began with a sharp intraday high near $830, followed by a sequence of lower highs and lower lows throughout July 29. This pattern reflected near-term selling pressure even as volume held steady.

Source: BraveNewCoin

BNB’s trading volume reached $2.02 billion during the same period, signaling ongoing interest from traders. Binance Price action stabilized around the $800 level, which is now being closely monitored as critical support. If BNB price maintains this zone, buyers may regain control. However, failure to hold could prompt a revisit to deeper support levels below $780.