Following President Donald Trump’s announcement of a pause on planned military strikes on Iran, BNB experienced a significant intraday surge, reaching $650. Analysts predict that a broader breakout could propel the Binance coin above $700. However, a drop below $600 would nullify the current bullish setup.
On Monday, BNB price witnessed a sharp rebound, reclaiming a crucial technical zone amidst a broader rally in the cryptocurrency market fueled by news of the US-Iran tension de-escalation. This development alleviated investor concerns, leading BNB to touch $650, aligning with Bitcoin’s surge above $71,000 and Ethereum’s rise above $2,170.
BNB’s Resilience Amidst Trump’s Iran Update
At one point, BNB even surpassed XRP in market capitalization, reaching around $93 billion before returning the fourth position to the Ripple token. The initial surge that propelled Binance Coin above XRP coincided with Bitcoin’s surge following President Trump’s statement about US-Iran talks. Stocks also surged after Trump’s announcement of a temporary halt in strikes on Iran.
“I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East,” Trump shared on Truth Social.
Discussing the talks, Trump mentioned, “They want, very much, to make a deal. We’d like to make a deal, too. We’re going to get together today. If it goes well, we’re going to end up settling this.”
Oil prices, which had surged due to the conflict, experienced a significant drop to $88 a barrel for West Texas Intermediate and $100 a barrel for Brent. Additionally, the Dow Jones Industrial Average surged over 1000 points.
Amidst these developments, the question arises: can BNB reclaim $700, or will bearish pressure outweigh bullish momentum?
BNB Price Analysis: Targeting $700
Technically, BNB is testing a critical resistance level that has recently acted as a significant swing high. Bulls are aiming to push the price above the 20-day exponential moving average. The RSI on the daily chart signals an upward bias near the neutral zone, while the MACD suggests a potential bullish crossover, with the histogram showing fading upside momentum.
If BNB successfully breaks above this resistance zone, the 50-day EMA will pose another challenge before a potential retest of $700. This zone also corresponds with the downtrend line from October 2025. A bullish continuation could pave the way for prices to reach $950-$1,000. However, failure to break above could lead to immediate support at $623, followed by a stronger demand zone around $600 and $583.
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