- Binance Coin (BNB) has broken out of a bull flag pattern, surging past $650 with technical indicators and the upcoming Maxwell hard fork pointing to a potential rally toward $750.
- Bullish sentiment is further supported by strong EMA crossovers, rising open interest in futures, and major performance upgrades coming to Binance Smart Chain.
This surge has been driven by both technical and fundamental catalysts has reignited investor sentiment.
BNB Technical Analysis
On the technical front, BNB has shattered a falling channel pattern that had persisted since December 2024. This breakout was preceded by a strong 15% rally in early May, propelling the token to a local peak of $680.
Although a brief pullback followed due to bullish exhaustion, leading to a retest of the $637 support level, BNB’s current surge suggests that the token has resumed its upward momentum.
The formation of a bull flag, a reliable continuation pattern, points to a potential 16% breakout, which could take BNB up to the highly anticipated $750 level.
Supporting this bullish scenario are a series of positive Exponential Moving Average (EMA) crossovers. The 50-day EMA has crossed above the 200-day EMA, creating a “golden cross,” often viewed as a precursor to sustained upward movement.
Adding to this momentum, BNB has also crossed the 100-day EMA, marking the second bullish crossover in just one week. Meanwhile, the Relative Strength Index (RSI) on the daily chart is rebounding from mid-levels, indicating a resurgence in buying pressure.
The Maxwell Hard Fork
The Maxwell hard fork has further added fuel to the bullish fire. Slated to bring key upgrades to Binance Smart Chain (BSC), the hard fork includes BEP-524, which aims to reduce block time to under 0.75 seconds, significantly boosting transaction speed.
Maxwell Hardfork is coming to BSC.
This isn’t just another upgrade—it’s a technical leap forward for faster blocks, better network, and smoother network performance.
Let’s break it down 🧵👇 pic.twitter.com/eZxgMOSdfH
— BNB Chain (@BNBCHAIN) May 20, 2025
Additionally, BEP-563 will enhance validator network communication, and BEP-564 is set to improve smart contract execution efficiency. These improvements could increase BSC’s utility and appeal, thereby positively impacting BNB’s valuation.
In the derivatives market, bullish sentiment is also gaining traction. BNB Open Interest has surged 2.56% to nearly $800 million, a sign of increasing trader participation. Despite over $423,000 in short liquidations within 12 hours, the Open Interest-weighted funding rate of 0.0033% reflects a strong bias toward continued bullish momentum.
While a psychological barrier looms at the $700 level, the overall setup for BNB remains positive. Should broader market conditions remain favorable, Binance Coin could soon test and potentially surpass the $750 milestone, further solidifying its position among the top-performing digital assets in 2025.