BNB, the native token of the Binance exchange, has experienced a significant surge in recent days, rising by 25% from its monthly low of $514 on March 11, 2025. This impressive rebound has raised renewed interest in the token, especially as it continues to show strong bullish patterns. As BNB pushes higher, eyes are now set on the $800 price target. But what are the key factors behind this rally, and will the momentum sustain?

Surge in Price and Positive Developments

BNB’s price surge is primarily driven by both external and internal factors. On the one hand, rumors surrounding former Binance CEO Changpeng Zhao (CZ) and U.S. President Donald Trump added fuel to the fire. According to reports, Trump’s family was allegedly considering an investment in Binance.US, while CZ was rumored to be seeking a presidential pardon. These claims were dismissed by CZ, who stated that there was no business deal or pardon request in play. However, the rumors nonetheless helped to raise interest in BNB, further contributing to the rise.

On the other hand, Binance recently introduced an attractive promotion—offering a six-month zero-fee swap for Binance Wallet users. This promotion has been a game-changer, providing a significant incentive for traders and investors to engage with Binance and its native token. This move is expected to attract new users and increase trading activity, pushing BNB’s value higher.

Technical Indicators: Signs of Bullish Momentum

BNB’s technical outlook suggests strong potential for further growth. The token recently formed a double bottom pattern on its three-day chart, a classic sign of bullish reversal. The double bottom pattern indicates that BNB has tested the $520 support level twice, and with each test, the token’s price has bounced back. This suggests that BNB is finding solid support at this level, which could pave the way for a significant uptrend.

Currently, BNB is facing key resistance at the $660 mark. A breakout above this level would mark a confirmation of the uptrend, and it could send the token toward $800 in the coming weeks. The $660 level is crucial as it has proven to be a major point of resistance in recent trading sessions. If BNB successfully breaks through this barrier, the next targets would be $680, $720, $750, and ultimately $800.

Key Technical Indicators Supporting the Uptrend

Zooming in on the 4-hour BNB/USDT chart, several key technical indicators further validate the bullish outlook. The token has reclaimed its 50-day Exponential Moving Average (EMA) at $592.61, signaling that it is in an uptrend. The 200-day EMA at $607.80 also acts as a support level, adding to the strength of the upward momentum.

The Relative Strength Index (RSI), currently at 68.40, signals strong momentum, although it is approaching the overbought zone. This suggests that while the uptrend remains intact, caution is warranted as the token nears overbought territory. Additionally, a bullish MACD (Moving Average Convergence Divergence) crossover has been observed, further confirming that BNB is in a strong upward trend. Moreover, the Supertrend indicator has turned green, which is another bullish signal indicating a potential trend reversal in favor of BNB.

Risks and Potential Downside

Despite the bullish signals, it’s important to recognize that market sentiment remains volatile, and the cryptocurrency space is often prone to sudden fluctuations. If selling pressure increases or the market sentiment turns negative, BNB may face a correction. In such a scenario, BNB could drop below $600, with potential support levels around $570 and even $550.

Conclusion

BNB’s recent price action and the emergence of bullish technical patterns suggest that the token could continue its rally toward $800 in the near future. The recent surge, coupled with Binance’s zero-fee promotion and the positive technical indicators, provides a strong foundation for further growth. However, investors should remain cautious of the potential volatility and be prepared for short-term price corrections. As always, market sentiment and external factors will play a crucial role in determining the future trajectory of BNB.