Karla Barker 
BNB Approaches Key Resistance Level
BNB is currently testing a significant price level around $1,160, which represents a critical supply zone that could determine the token’s near-term direction. As of this writing, the price hovers at $1,153, showing the bulls’ persistent efforts to break through this barrier.
The token has recorded two consecutive green daily closes and appears poised for a third, with a 3% gain in the past 24 hours contributing to an impressive nearly 20% monthly increase. This price action occurs within an ascending channel pattern, suggesting the potential for continued upward movement.
Technical indicators show the Relative Strength Index climbing from oversold territory below 40 to a more neutral 54 on the daily chart. The 4-hour chart shows an RSI around 65, indicating some buying momentum but not yet reaching overbought conditions. This divergence suggests selling pressure may be diminishing, giving bulls more room to push prices higher.
Potential Price Scenarios
A decisive close above $1,160 could validate a breakout, with the next resistance levels sitting at $1,185 and $1,215. Success at these levels would bring the all-time high above $1,300 into play. However, failure to maintain support at $1,150 might trigger a pullback to $1,100 and potentially $1,080.
The last time BNB traded above $1,160 was in mid-October, when prices crashed from record highs above $1,370. This makes the current retest particularly significant for determining whether the token can reclaim lost ground.
Market Context and External Factors
Recent developments have provided additional support for BNB’s price action. President Donald Trump’s pardon of Binance founder Changpeng “CZ” Zhao has generated positive sentiment across the crypto market. Zhao served a four-month sentence in 2024 after stepping down as Binance CEO following convictions related to anti-money-laundering violations.
While immediate price surges followed the pardon announcement, the longer-term implications remain uncertain. There’s speculation about whether Zhao might return to the exchange, though current indications suggest he’s more focused on YZi Labs and other initiatives.
The native token of the BNB Chain has also benefited from fresh listings on major platforms like Coinbase and Robinhood, increasing accessibility and potentially driving additional demand.
Looking Forward
The current retest of $1,160 represents a crucial moment for both bulls and bears. If buyers can maintain momentum and push through this resistance, we might see a sustained move toward higher price targets. But given the historical significance of this level, any failure to break through could lead to consolidation or a modest pullback.
I think the combination of technical factors and positive market sentiment creates a favorable environment, though crypto markets remain notoriously unpredictable. The coming days will likely provide clearer direction as the market digests these developments and assesses whether the current momentum can be sustained.