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Binance Coin (BNB) appears to have been oversold and might be primed for a rebound on the cryptocurrency market. Notably, the Bollinger Bands of the asset suggest overheating on the hourly chart, a move that may drive the price downward if the sentiment is not sustained.
Bollinger Bands reinforce bullish sentiment
According to CoinMarketCap data, the Bollinger Bands show the need for caution in the short term. This technical tool used in analyzing crypto assets suggests that Binance Coin is on an upward trajectory. The bands are narrowing with the lower band set at $763.02.
The upper line of the Bollinger Bands signals that the asset is heading between $770.44 and $777.32. As of press time, Binance Coin is changing hands on the crypto market for $774.98, which represents a 2.06% increase in the last 24 hours.
The coin is showing potential for more upward movement as it climbed from a low of $759.07 to a peak of $779.01 in earlier trading sessions. However, this uptrend is only promising if the extended hourly candle is stretched to a positive daily close.
The asset is also enjoying interest from investors as trading volume has increased slightly by 4.12% to $2.1 billion.
The spike in price came after BNB found support at the $758.56 level, which aligns with the Fibonacci retracement level. Market participants in the ecosystem are interpreting this as a buying opportunity, a development that has helped to reduce bearish momentum.
If BNB buyers can sustain current momentum, Binance Coin might break out toward $800 if it witnesses strong buying pressure. This, most importantly, is not without the risk of a potential drawdown, as hinted by the overshooting of the Relative Strength Index (RSI).
Binance Coin's price milestones and long-term performance
Binance Coin has recorded several positive highlights in the second half of 2025.
Notably, in July, it reached an all-time high (ATH) $859, pushing its market capitalization to $118.29 billion. The move made Binance Coin flip Strategy, the Michael Saylor-led business intelligence firm, in market cap.
Earlier in July, former CEO of Binance, Changpeng "CZ" Zhao also highlighted how the price of the asset has increased over 10,000 times in value. This growth occurred over eight years as the asset marked its anniversary.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team