The 50, 100, and 200 SMA are critical resistance points for the BNB price. A breach above the 0.382 Fibonacci level would propel prices toward $800.
Ali Martinez, a crypto analyst, has identified critical resistance levels that could determine whether Binance Coin (BNB) continues its upward trajectory toward $800. His analysis emphasizes three significant simple moving averages (SMAs)—the 50, 100, and 200 SMAs—presently serve as formidable obstacles to further price growth. Furthermore, he emphasizes the 0.382 Fibonacci retracement level, a resistance zone that has historically been significant and has been the site of price reversals.
Key Resistance Levels That Have the Potential to Increase the Price of Binance Coin (BNB)
As per analyst Ali Martinez, BNB price is constrained by resistance at critical technical levels, which must be overcome to maintain its upward trajectory. The 50, 100, and 200 simple moving averages (SMA) are robust resistance zones. Historically, these moving averages have served as critical decision factors, preventing the price of Binance Coin from advancing further.
Martinez also emphasizes the 0.382 Fibonacci retracement level, which is consistent with previous resistance zones that the BNB price has encountered difficulty breaching. Price pullbacks have frequently occurred at this level, rendering it an essential area to monitor. The asset could experience a more robust drive toward higher price targets if BNB can surpass this resistance.
Furthermore, the TD Sequential indicator reveals resistance trendlines and risk lines that previously indicated trend reversals, further exacerbating these challenges. Binance Coin must surpass these levels to prevent a retracement before any additional upward movement.
In the interim, Binance and the U.S. Securities and Exchange Commission (SEC) have submitted a joint motion to suspend their legal dispute for 60 days. This development has alleviated the ambiguity surrounding Binance, thereby serving as a favorable catalyst for the price of BNB. Additionally, Binance disclosed its 2025 roadmap, which delineated strategies to enhance transaction velocities and incorporate artificial intelligence, reinforcing the optimistic outlook for BNB.
Despite the crypto market’s decline, Binance Coin is experiencing growth
BNB has maintained its crypto rally, gaining over the past 24 hours despite the broader crypto market downturn. In the past week, BNB has increased by over 6% in 24 hours and 17% over the past week, while Bitcoin and Ethereum have experienced a 1.5% and 4% decline, respectively, in the past 7 days.
An increase in U.S. inflation data accompanies the recent rise in the price of BNB. In January, the Consumer Price Index (CPI) report indicated a 3% year-over-year increase, which surpassed economists’ expectations. Bitcoin and other assets have experienced declines as a result of this inflation surge, which has affected significant cryptocurrencies.
Nevertheless, BNB has maintained its resilience, persisting in its crypto rally amid market uncertainty.
Developments at Binance and On-Chain Growth Enhance BNB
Aurelie Barthere, an analyst at Nansen, has identified robust on-chain activity on the Binance Smart Chain (BSC) as a significant factor in the price increase of BNB. In contrast to the negative growth observed on other blockchains, BSC’s network fees increased by 114% over the past week. This increase in network activity indicates a growing demand for transactions within the Binance ecosystem.
Additionally, social media mentions of Binance coin reached an eight-month peak during the TST memecoin rumors, as indicated by a recent report. Despite Changpeng Zhao’s denial, the controversy sparked market enthusiasm, resulting in a surge in the price of BNB.
Martinez underscored that the potential for a robust breakout could be established by surmounting these resistance levels. The commencement of a crypto rally toward the $800 target could be indicated if the BNB price effectively surpasses the 50, 100, and 200 SMA and the 0.382 Fibonacci retracement level.
