BNB Bulls Eyeing $1K as Key Resistance Level Looms

Binance Coin (BNB) had a significant rally in late July, breaking above its May high at $745. This upward push continued for another week, with BNB reaching $780 before retracing.

The recent price action has caused short liquidations on the way up, and the current retracement could go further south. However, the charts suggest that a buy signal is flashing if Bitcoin (BTC) does not see a massive sell-off.

The importance of the $745 level lies in its status as both a swing high set in late May and a lower high from BNB's bearish trend in 2026. The breach of this level signaled a longer-term structure shift, making it a crucial support zone.

Looking at the technical indicators, the Commodity Channel Index (CMF) is above +0.05, the On Balance Volume (OBV) has been climbing higher over the past two months, and the Relative Strength Index (RSI) is above 50. These bullish signals are consistent across multiple timeframes.