BNB came into the spotlight after a massive rally, breaking the critical resistance level at $724 and signaling the potential for more upside. This breakout marked the beginning of bullish momentum, sparking speculation that the token may be preparing to enter uncharted territory. Given the positive market sentiment and increasing trading activity, BNB appears poised to extend its gains, leaving many wondering how high it can climb in the coming days.

The purpose of this article is to examine BNB’s recent break above the $724 level and discuss the key factors behind its bullish strength. seeks to assess whether an asset can maintain its upward trend and set modern all-time highs by analyzing technical indicators, market sentiment and potential resistance zones

BNB Surpasses $724: Key Milestone for Bulls

On the 4-hour chart, BNB is trading above the 100-day straightforward moving average (SMA), a key indicator of its current upward trajectory. Importantly, this alignment highlights the token’s underlying strength and suggests that positive sentiment is driving its momentum. The steady upward move reflects growing optimism among traders, with BNB currently aiming to create modern highs.

Analysis of the 4-hour Relative Strength Index (RSI) reveals a noticeable uptick, with the indicator hitting the 78% mark after rebounding from its recent low of 46%. The edged rise highlights a robust rally in bullish momentum as increased buying pressure pushed the RSI into overbought territory, thus signaling a significant shift in market sentiment.

Additionally, the daily chart further highlights BNB’s robust upward momentum, marked by the formation of bullish candlesticks as the price rises above $724, indicating the possibility of further gains and an extension of the rally. Its position above the SMA reinforces the positive trend, demonstrating sustained strength and market confidence, setting the stage for further growth.

Finally, the RSI indicator on the daily chart recently reached 76%, which indicates that BNB has entered overbought territory. This suggests robust optimism as significant purchasing pressure drives prices higher. While this level indicates the potential for further gains, it also signals that the asset may be overheating.

Will the bulls manage to maintain momentum above $724?

BNB breached the key $724 level, fueling a robust upward move. The key question is whether the bulls will be able to maintain this upward trajectory and strengthen its value. If buying pressure remains robust, the asset could be on track to reach modern highs, with $800 being the next key target.

However, if the cryptocurrency fails to maintain its bullish momentum, it may begin to decline towards the $724 level. A break below this support could trigger additional downward movement, which could prompt the price to test other support zones.