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Key Insights:
- BNB price sports a breakout pattern as volume spikes fuel hopes of a rally.
- Paul Atkins’ appointment boosts market sentiment.
- Heavy crypto asset short liquidations suggest bullish momentum.
The BNB price has spiked 2.2% in the last 24 hours to trade at $617 as of 4:26 a.m. on a 98% leap in trading volume to $1.08 billion. The buzz around BNB stems from a key breakout pattern spotted on its chart. Traders speculate that this BNB breakout could send the price rocketing to $750. Is the price of BNB ready to go to the moon?
BNB Price Breaks Out As SEC Chairman Paul Atkins Drops a Bombshell
The crypto market got a massive win this week with the swearing-in of Paul Atkins as the 34th SEC Chairman on April 22, 2025. Atkins, nominated by President Donald Trump, is a known pro-crypto advocate, and his appointment has the community buzzing.
In a recent statement, Atkins said his top priority is to “provide a firm regulatory foundation for digital assets,” focusing on investor protection and market transparency while keeping politics out of the game. This could be the green light that BNB price needs to soar.
Big names like Michael Saylor are already hyping up the news, tweeting that “SEC Chairman Paul Atkins will be good for Bitcoin,” and by extension, the broader crypto market, including BNB.
BNB Analysis: All Eyes on $750 Now
Looking at the three-day price chart for BNB shows a breakout from a falling channel, suggesting the trend could be reversing from bearish to bullish.
On April 23, the price moved above the falling resistance trendline and is now testing the 50-day simple moving avg. (SMA) around $647. This indicates early bullish momentum building.
The breakout candle is bullish with a long body and minor wicks, indicating strong buyer control. This is a bullish breakout candle, potentially marking the start of an upward move.
With the price holding steady at $617 and volume steadily increasing, BNB’s bullish momentum is likely to continue. Should history repeat, BNB price could likely witness a push toward the $750 target.
The chart also shows the price approaching $647, which marks a key resistance and also aligns with the 50-day SMA. The 200-day SMA, however, is sitting at $498 and offers robust support.
This tight spread between the 50 and 200-day SMAs is a good sign for the bulls.
The relative strength index (RSI) at 51.38 signals bullish momentum. If BNB can hold above $597 and smash through $634, it might see a quick run-up to $750. Conversely, if it dips below $597, bears might take control and push it to $536 or lower to $500.
Are BNB Bulls in Control?
Data from the liquidation map from Coinglass shows a decent amount of short positions getting rekt on Binance, OKX, and ByBit. What’s more, there is about 3 times more cumulative long liquidation leverage than shorts, which means the market sentiment around BNB coin is bullish as traders anticipate the price will surge higher in the future.
A deeper look at the liquidation map shows about $3 million worth of shorts piled up around the $627–$631 range. This means BNB will likely have an easy time hitting $750 if it manages to break above this resistance level.
That’s some serious upside, and with the falling channel breakout already in play, $750 looks like a pitstop on the way to four-digit territory.
What’s more, Bitcoin’s price is flexing hard, sitting at $94,548 as shorts get destroyed, per the Coinglass data showing cumulative short liquidation leverage tanking.
The BNB price is sitting pretty with a solid technical setup, a pro-crypto SEC Chairman, and growing market confidence.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
