BNB price eyes $734 after reclaiming $700 support

BNB price traded near $704 on Aug. 24 after gaining almost 16% in seven days, as momentum from the broader crypto rally and the upcoming Pasteur hard fork kept buyers in control.

Summary

• BNB price rose about 16% over seven days and reached a weekly high near $725.
• The daily RSI reached 85.25, placing the token deep in overbought territory.
• A 4-hour Supertrend signal remained bullish, with dynamic support at $663.
• Liquidation clusters at $710 and $719 could attract price if BNB continues higher.

BNB price action today

According to data from crypto.news, BNB (BNB) price was trading near $704 at the time of writing, up about 1% over the previous 24 hours. The token had gained almost 16% over seven days, lifting its market capitalization to approximately $93 billion.

The rally accelerated after BNB broke out of the $600–$620 range that had restricted price action during the first half of August. Buyers pushed the token through $650 on Aug. 20 before it briefly climbed above $720 over the weekend.

BNB reached a weekly high near $725 before profit-taking pulled the price back below $690. Buyers absorbed the decline, however, and the token returned above the psychological $700 mark on Aug. 24.

The 4-hour chart showed BNB forming higher lows following the pullback. Its latest candle traded between $692.94 and $705, indicating that buyers were defending dips below $700.

Chaikin Money Flow stood at 0.07 on the 4-hour chart. A positive reading means more capital is entering the asset than leaving it, although the indicator has eased from the elevated levels recorded during the initial breakout.

Pasteur hard fork supports BNB Chain activity

BNB’s advance comes one day before the Pasteur hard fork is scheduled to activate on BNB Smart Chain.

According to BNB Chain’s upgrade schedule reported by crypto.news, Pasteur will go live at 2:30 a.m. UTC on Aug. 25. Node operators must install client version v1.7.7 before the activation.

The upgrade combines three proposals intended to improve cross-chain transfer security, restrict permissions linked to replaced validator keys, and increase block capacity. Internal testing raised transaction throughput from 1,237 to 2,324 transactions per second.

Pasteur does not directly change BNB’s supply, making it difficult to separate the upgrade’s effect from the broader market rally. Still, the approaching activation has given traders a network-specific event to watch while demand for major crypto assets remains strong.

BNB Chain has also recorded a sharp expansion in tokenized real-world assets. RWA.xyz data showed more than 1.15 million RWA holders on the network, up nearly 580% over 30 days at the latest reading.

The network held about $5.8 billion in distributed asset value, while 30-day RWA transfer volume reached $28.17 billion. Those figures measure activity involving tokenized assets and do not represent capital flowing directly into BNB.

US policy shift strengthens the broader market backdrop

BNB’s rally followed a market-wide rise that lifted Bitcoin above $77,000 and pushed several large-cap altcoins through long-standing resistance levels.

Improving US regulatory expectations formed part of that move. On Aug. 18, the Securities and Exchange Commission proposed Regulation Crypto Assets, a tailored securities offering framework for certain investment contracts involving crypto assets.

The proposal does not classify BNB or grant the token regulatory approval. However, it signals that the SEC is considering defined fundraising and disclosure pathways instead of applying the existing securities registration system without crypto-specific exemptions.

US macro conditions also supported risk assets after the Treasury Department doubled the planned size of long-term bond buybacks from a maximum of $2 billion to at least $4 billion per operation.

The program is intended to improve liquidity in older long-dated Treasury securities rather than inject funds directly into cryptocurrencies. Falling yields and a weaker dollar initially accompanied the announcement, creating a more favorable backdrop for Bitcoin and other risk-sensitive assets.

BNB faces resistance at $719 and $734

BNB’s daily chart shows that the rally has moved into an extended technical zone.

The token crossed the Murray Math resistance level at $687.50 and was trading above the $703.13 overshoot level. The next targets shown on the chart are $718.75 and $734.38.

The $719 area is the first major test because it sits near the recent local high and an elevated band of short-liquidation exposure. A daily close above that level could open a retest of $725, followed by the $734–$745 region.

However, the daily Relative Strength Index stood at 85.25, well above the conventional overbought threshold of 70. Its moving average was lower at 69.85, showing how quickly momentum increased during the breakout.

An overbought RSI does not guarantee a reversal, but it raises the risk of consolidation or a sharper pullback if buying slows. The first support sits at $703, followed by the former resistance level at $687.50.

Below that, the 4-hour Supertrend remained bullish at $663.13. A close beneath the indicator would weaken the short-term trend and place the $656–$640 region back in focus.

Liquidation heatmap points to $710 as the next magnet

The 24-hour CoinGlass liquidation heatmap showed the closest large concentration of leveraged positions around $709–$711. BNB was approaching that zone from below at the end of the chart.

Further liquidation bands appeared between $714 and $720, suggesting that a break above $710 could trigger additional buying as short positions are forced to close. Higher clusters were visible near $724, $730, and $734.

On the downside, notable liquidity rested around $691, $687, and $682. A rejection from $710 could therefore pull the price toward those lower clusters, particularly if highly leveraged traders begin closing long positions.

Crypto analyst EinsteinBTC1 identified $745 as the larger breakout level on BNB’s weekly chart. The analyst said a weekly close above that resistance would confirm a move toward $960, with the former all-time-high region near $1,376 presented as a longer-term target.

https://twitter.com/EinsteinBTC1/status/2091551337569976500

The forecast remains conditional. BNB must first overcome the $719–$734 resistance band while managing an overbought daily RSI. Holding above $687.50 would preserve the immediate bullish setup, whereas a loss of $663 would indicate that the current rally is losing strength.