- BNB jumps 25% after rebounding from its $514 monthly low on March 11.
- Binance launched a six-month zero-fee swap promotion for Binance Wallet users, which could attract more traders.
BNB, the native token of Binance, has gained approximately 25% in the past week after dropping to $514 on March 11, its lowest level this month. The surge comes amid rumors linking former Binance CEO Changpeng Zhao (CZ) and U.S. President Donald Trump. Reports suggested that Trump’s family considered investing in Binance.US, and CZ was allegedly seeking a presidential pardon. However, CZ dismissed these claims, stating, “No business deal, no pardon request!”
Adding to the momentum, Binance has launched a six-month zero-fee swap promotion for Binance Wallet users. Meanwhile, BNB touched an intraday high of $643.04 before settling around $632.76, with a market cap of $89.19 billion and a trading volume of $1.66 billion.
BNB is showing signs of a bullish reversal after forming a double bottom pattern on the three-day chart. After testing support near $520 twice the token now faces key resistance at $660. A breakout above this level could push BNB toward $800 in the coming weeks.
BNB’s Technical Outlook and Price Targets
In the BNB/USDT 4-hour chart, the token has reclaimed its 50-day EMA at $592.61, with the 200-day EMA at $607.80 acting as support. The RSI, currently at 68.40, signals strong momentum but is nearing the overbought zone. Meanwhile, a bullish MACD crossover confirms an uptrend. Zooming in, the Supertrend indicator turning green signals a bullish trend reversal, further validating potential upward momentum.
If the uptrend continues, BNB could rise above $680, triggering a rally toward $720, followed by $750 and $800. However, despite growing interest in BNB, market sentiment remains bearish, which could lead to high price volatility. If selling pressure increases, BNB may drop below $600, potentially extending losses to $570 and even below $550.
