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**BNB (BNB) Price: Bulls Target $719 After Maxwell Upgrade Success**
The price of BNB has witnessed a surge in bullish momentum following the successful implementation of its Maxwell upgrade. This development has sparked increased optimism among traders and analysts, with many now targeting a potential move to $719.
As CoinCentral reported earlier, the Maxwell upgrade went live on Monday, marking a significant milestone for BNB Smart Chain. The event has seemingly catalyzed a bullish setup, with multiple analysts identifying key targets between $700-$900 based on technical patterns and expanding DEX market share.
**Key Resistance Levels and Targets**
Marcus Corvinus, a respected crypto analyst, outlined three short- to mid-term goals: reaching $700, then $800, and ultimately $900. His analysis emphasized BNB’s quiet accumulation phase, suggesting the current consolidation may prelude a directional shift.
Meanwhile, LAXMAN has confirmed the presence of a Volatility Contraction Pattern (VCP) on the weekly chart. This formation is characterized by compressing highs, rising lows, and declining volume, indicating reduced selling pressure over time. The VCP structure hints at a breakout trigger price of $677, with recommended stop-loss levels near $648.
On the four-hour chart, an inverse head-and-shoulders pattern has emerged, which would be complete if the price closes above $660. This formation carries a pattern target of $719.
**Fundamental Support Strengthens**
The expansion of BNB Chain’s decentralized exchange (DEX) market share provides fundamental backing for the bullish technical outlook. Data reveals that the blockchain’s daily DEX volume has surged from approximately 5% in January to 30% by June’s end, positioning it among the top three leading blockchains for on-chain trading.
The network now directly competes with Ethereum and Solana in the decentralized finance space, fostering a strong foundation supporting analyst price projections. The observed correlation between utility and technical strength patterns reinforces the bullish trend.
**Conclusion**
Currently, BNB is trading around $658, representing approximately 1% gains over the past 24 hours after recovering from an earlier low of $644.67 with trading volume near $1.44 billion.
Source: coincentral.com
