Above $700: BNB Price Forecast as token rebounds and Binance posts post-hack net inflows

• $700 is back below BNB. The token advances with near-term support from the 200-day EMA.
• Following last week’s $6.3 billion hack, Binance is recovering, with hourly deposits now outpacing withdrawals.
• Lagging momentum indicators leave BNB’s broader technical bias bearish, despite a modest recovery.

$700 is back below BNB (BNB) on Tuesday. Buyers are seeking to restore momentum after last week’s sell-off. Investor reaction to a security breach at Binance, the largest crypto exchange, largely drove the slide from Thursday’s highs above $760 to lows of $680.

Approximately $6.3 billion was affected by the hack, making it the largest in the crypto industry’s history. Working with blockchain stakeholders, Binance froze roughly $3 billion in assets believed to have been stolen by TraderTraitor, a hacker group linked to North Korea.

Hourly deposits overtake withdrawals at Binance

Deposits are exceeding withdrawals on an hourly basis at Binance, co-founder Changpeng Zhao, popularly known as CZ, said on X on Tuesday. His update comes after the exchange contained the security breach and resumed withdrawals on Sunday.

Initial net outflows totalled about $3.64 billion, the exchange reported, comprising $4.65 billion in withdrawals against $1.01 billion in deposits. According to Wednesday’s Proof of Reserves (PoR) snapshot, that net figure equates to roughly 2.1% of Binance’s $171 billion in total assets under management.

Continued hourly net inflows could indicate that Binance has come through the hack’s fallout and is starting to regain users’ trust. To protect customers, the exchange announced that it will fully cover losses from the hack with its internal insurance fund and assets.

Retail appetite for BNB, however, has weakened in recent days. Perpetual futures Open Interest (OI) stood at $1.74 million BNB on Tuesday, compared with 1.95 million BNB last Friday. A decline in retail risk appetite could put pressure on the token, constraining its recovery and increasing the likelihood of a prolonged sell-off.

$700 BNB edges higher above key support: Technical analysis

At $700, BNB sits just above immediate trend support from the 200-day Exponential Moving Average (EMA) near $692. Overhead, the 100-day and 50-day EMAs at $708 and $729, respectively, continue to constrain the token. The broader bias remains bearish when this positioning is considered alongside the SuperTrend line at $766, a subdued Relative Strength Index (RSI) around 39 and a negative Moving Average Convergence Divergence (MACD) histogram.

The 100-day EMA around $708 is the first resistance level, with the 50-day EMA near $729 next in line. Beyond these, the broken rising trendline at $736 presents a more substantial hurdle, while the SuperTrend zone around $766 limits further gains. Near-term downside support comes from the reclaimed 200-day EMA near $692. Below it, the earlier trendline-break area around $686 provides another defensive level. A failure at that level would likely create scope for a deeper retreat within the wider uptrend channel.

(The technical analysis of this story was written with the help of an AI tool. Know more.)