BNB's price is currently in a consolidation phase after attempting to reach an all-time high. This phase is characterized by the formation of an ascending triangle flag pattern above the 100-day Simple Moving Average (SMA) on the 1-day chart, which often precedes a bullish breakout.

Potential Breakout Signals
BNB’s price is oscillating between a resistance level of $647 and a support level of $498, indicating that momentum is building for a potential bullish breakout. The total market cap is $89,412,113,586, with a 1.70% increase in the last 24 hours despite a 37% decrease in trading volume, now at $1,535,069,940. BNB is trading at about $604, slightly above the 100-day SMA, showing a modest 0.65% increase over the past day. From a technical perspective, BNB trading above the 100-day moving average is a positive sign, suggesting a possible move beyond the upper boundary of the ascending triangle, supported by encouraging signs on the 1-day chart.

Impact of RSI on BNB’s Path
The Relative Strength Index (RSI) is currently just above the zero line, typically indicating bullish momentum, which supports the likelihood of BNB breaking through the upper boundary of the ascending triangle.

Key Takeaways for Investors
- Monitor BNB’s price movements around the $647 resistance and $498 support levels for breakout signals.
- A sustained position above the 100-day SMA suggests potential for a bullish trend.
- Watch the RSI signal line for continued bullish momentum.
- Be prepared for possible downward moves if BNB fails to break out of the ascending triangle.

If BNB breaks above the ascending triangle, it could surpass the previous high of $647 and potentially set a new all-time high. Conversely, failure to break this pattern may result in a downward move, potentially testing the $498 support level or even dropping further to $384.