Binance Coin (BNB) approached a major breakout zone on Monday, August 24, 2026, after moving above a descending trendline. According to analysts, the next weekly close could determine whether the token begins a new sustained phase of expansion.

As of press time, Binance Coin (BNB) is trading at $696.92, showing an increase of 0.96% over the past day. The 24-hour trading volume currently stands at $1.76 billion, while the market capitalization sits at $92.75 billion. Over the last week, the BNB price has climbed 15.38%, according to CoinMarketCap data. That valuation keeps BNB among the largest cryptocurrencies by market capitalization. BNB functions as the native token of the BNB Chain network, where it is used to pay transaction fees, and it also grants holders discounted trading fees on the Binance exchange, which introduced the asset through an initial coin offering in 2017. Binance has additionally carried out recurring token burns that permanently remove BNB from circulation under a supply-reduction schedule built into the network.

Why Is $745 Crucial for the BNB Price Breakout?

Crypto analyst Einstein pointed out that BNB has moved above the descending trendline and is now probing the $745 hurdle — the price point that, in his view, will decide whether the token enters a new period of expansion.

A bullish close above $745 on the weekly timeframe could see $960 become the initial upside target, with $1,376 coming next — the area where BNB would test its previous all-time high. Weekly closes carry particular weight in technical analysis because they filter out intraday volatility and are commonly treated as a firmer test of whether a breakout holds than moves on shorter timeframes.

The bearish setup remains intact only as long as BNB holds above the $537 support level on the higher timeframes. Any break below that support could lead to a broader breakdown in the BNB price.

In addition, a second analyst, The Boss, observed that the weekly chart is still respecting a broad ascending channel. The latest rally began at the lower support of that channel and headed toward the resistance level inside the chart. A clear breakout, followed by a weekly close above the zone, could create an opportunity to move toward the channel's resistance level. Failure to do so may allow BNB to return to the lower support area.

What Do RSI and MACD Signal for the BNB Price?

According to TradingView data, the daily Relative Strength Index (RSI) registered 81.40, while its moving average reading stands at 69.58. An RSI above 70 suggests an overbought condition, implying very high momentum but also an increased chance of profit-taking.

The Moving Average Convergence Divergence (MACD) line is recorded at 27.13, with the signal line at 17.37 and a positive histogram measured at 9.76 — a combination indicative of powerful bullish momentum on the daily chart. The MACD gauges momentum by tracking the distance between two moving averages of price, with the histogram representing the spread between the MACD line and its signal line.

How Could Derivatives Activity Affect the BNB Price?

Derivatives metrics point to reduced participation in spite of the current rise in BNB's price. Open interest measures the total value of futures contracts that remain unsettled, while funding rates are recurring payments between long and short positions designed to keep futures prices anchored to spot markets. CoinGlass data shows that futures volume has fallen 45.63% to $944.82 million, while open interest declined 0.95% to $1.09 billion.

The OI-weighted funding rate stayed positive at 0.0087%, indicating a slight bias toward long positions. The direction of the current market trend will be determined by whether buyers manage to reach the $745 level or sellers force another test of the lower channel support.