BNB’s rally saw the price decisively break through the key psychological barrier at $700, coinciding with the upper boundary of the ascending channel that has guided its price since November.

The move reached the 0 Fibonacci retracement level ($783.20), calculated from the swing low at $551.80 to the recent high. However, the rejection of this resistance led to a pullback to the .236 Fib level ($728.60), which now acts as immediate support.

If the .236 Fibonacci level fails to hold, the next key levels to watch are the .382 ($694.80) and .5 ($667.50) retracement levels, which are close to the .236 Fibonacci level Match 50-EMA at $671.60. These levels are expected to act as strong support zones if further bearish pressure arises.

BNB/USD Weekly Price Chart – Cup and Handle Breakout Confirms $2,500 Price Target

BNB/USD has entered the breakout phase of a long-term cup-and-handle (C&H) pattern, a bullish continuation setup that has been developing over several years.

The “cup” represents a rounded consolidation phase that spanned a multi-year period, while the “handle” consisted of a short pullback below neckline resistance near $650.