On July 11, 2025, Binance Coin (BNB) is trading at $686, testing key resistance at $685-$700 after a 1.59 million token burn ($1.024 billion) in its 32nd quarterly event, per crypto news. The burn, reducing supply to 139.2 million, fuels bullish momentum alongside rising active addresses (900,000-1 million, up from 400,000 in March, per Glassnode). BNB’s price, up 1.78% in 24 hours, forms an ascending triangle, signalling a potential breakout to $730-$745 if $700 is breached with strong volume.
The token burn, part of BNB Chain’s deflationary strategy to halve the supply to 100 million, drives scarcity. Rising active addresses reflect growing adoption, with BNB used for trading fees, BNB Chain gas, and DeFi. Technical support for the rally: RSI at 67 nears overbought, and MACD shows a bullish crossover with rising green bars. A break above $700 could target $745, but a pullback to $625-$635 support is possible if RSI hits overbought levels.
X posts highlight BNB’s bullish structure, with whale accumulation and partnerships (e.g., Kraken, Backed Finance for tokenized stocks) boosting sentiment. However, some warn of overbought signals (CRSI ~92). If the $700 resistance holds, BNB could drop to $615 or $600 trendline support. Analysts see an $800 target if momentum persists, driven by burns and institutional interest.
BNB’s breakout potential is high, but overbought signals and resistance at $700 pose risks. Traders should monitor volume and $625-$635 support for confirmation of the next move, especially with broader market bullishness from Bitcoin’s $117,000 peak.
