BNB Price Eyes Major Rally as Binance OI Hits Record $8.3 BlnBinance Coin ( CRYPTOCAP:BNB ) is in the spotlight as Binance's open interest in crypto derivatives surges to an all-time high, hinting at a significant rally for the native exchange token. With open interest reaching $8.3 billion, the crypto world is abuzz with speculation over whether CRYPTOCAP:BNB will capitalize on this momentum and break through key resistance levels. Here's an in-depth look at the technical and fundamental elements driving BNB's market action.
Binance Dominates Crypto Derivatives Market
The latest on-chain data from CryptoQuant reveals a remarkable milestone for Binance, as the exchange's open interest in crypto derivatives surged by 10.24% in just 24 hours, hitting a record $8.3 billion. This figure not only highlights the exchange's growing influence but also underscores Binance's 35% share of the global open interest in crypto futures, solidifying its dominance in the market.
This uptick comes at a time of heightened market activity, following Bitcoin's historic rise to $74,000 after Donald Trump’s U.S. presidential election win. The ripple effect of Bitcoin’s upward momentum has impacted the entire crypto market, with liquidations of short positions amounting to over $370 million. Total liquidations reached approximately $580 million, underscoring the bullish sentiment that has fueled trading interest across various exchanges.
Binance’s open interest dominance is a crucial indicator of market sentiment, signaling that the exchange continues to play a pivotal role in shaping broader crypto market trends. The increased interest in Binance's derivatives platform could drive higher trading volumes and, consequently, more significant price action for BNB.
BNB Price Prediction
From a technical standpoint, CRYPTOCAP:BNB appears well-positioned for further gains. The token has experienced a 2.6% price increase over the past 24 hours, climbing to $583. Trading volume also surged by an impressive 46.55%, totaling $2.26 billion, while BNB’s market cap rose to $84.12 billion. The combination of increased trading activity and a favorable technical setup points to a potential bullish continuation.
Key chart patterns are bolstering the optimistic outlook for BNB. Analysts have identified a cup and handle formation, a classic technical indicator that often signals a bullish breakout. If CRYPTOCAP:BNB successfully breaks out of this pattern, it could aim for the resistance level at $700—a crucial price point that, if surpassed, may open the door for even higher targets.
Additionally, CRYPTOCAP:BNB recently broke out of a falling wedge pattern that lasted over five days, further reinforcing the bullish narrative. The token has rebounded from this consolidation phase and is showing signs of strength. As of now, CRYPTOCAP:BNB is trading up 4.11% and has established a bullish continuation pattern. The Relative Strength Index (RSI) stands at 55, indicating that CRYPTOCAP:BNB is neither overbought nor oversold, leaving ample room for upward movement.
Resistance and Support Levels to Watch
For traders and investors, key resistance and support levels will be crucial in determining BNB’s next moves. The first significant resistance sits around $613, the one-month high that CRYPTOCAP:BNB previously touched. Breaking this level could pave the way for a push toward the $700 resistance. On the downside, traders should keep an eye on the $550 support level, which, if breached, could signal a temporary pullback.
Broader Market Sentiment
BNB’s price action is not happening in isolation. The broader market sentiment, driven by Bitcoin's historic highs, has also played a role in shaping expectations for $BNB. The recent surge in Bitcoin led to a wave of short liquidations, wiping out over $370 million across exchanges. This liquidation cascade contributed to a more bullish environment, benefiting altcoins like $BNB.
Moreover, the aggregated open interest across all major futures exchanges has hit $23.3 billion, reflecting the strong market enthusiasm. This level of activity suggests that traders are positioning themselves for significant price moves, adding to the anticipation surrounding BNB’s potential breakout.
Conclusion
BNB's price outlook is undeniably bullish, backed by strong fundamental indicators and promising technical patterns. Binance's record-breaking open interest underscores the exchange's market influence, while the cup and handle and falling wedge breakouts point to further upward momentum. With Bitcoin’s rally and overall market optimism supporting BNB’s rise, the native token is poised to test higher resistance levels.
As CRYPTOCAP:BNB eyes a potential breakout to $700, market participants should remain vigilant, watching both the support at $550 and the key resistance levels. Whether CRYPTOCAP:BNB can sustain this momentum and continue its ascent will depend on how the broader market dynamics unfold, but for now, the sentiment remains overwhelmingly positive.
BNB holders, get ready—this rally could be just getting started!
Bnbcoin
BNBSUD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD BNBSUDSHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Is BNB Ready for a Major Breakout? Here’s What You Need to Know!Yello, Paradisers! Have you been watching #BNBUSDT lately? You might be sitting on a goldmine without even knowing it.
💎#BNB is in the midst of a massive accumulation phase that has been developing over 1,265 days—this isn’t just a pattern, it’s a potential game-changer. Even more intriguing, a falling wedge is forming, hinting at a possible breakout in the days or weeks ahead. Could this be the moment we've been waiting for?
💎BNB has shown incredible resilience, holding strong at the $480 to $450 range. As long as these levels remain intact, BNB maintains a bullish bias, setting the stage for a potential breakout.
💎Keep an eye on the $555 level. This is where descending resistance and lower-time-frame horizontal resistances converge. If BNB can break through $555, the next targets are the $640 to $700 range. These are pivotal levels; breaking through here would push BNB toward the $880 to $920 range, where the pattern targets completion.
Paradisers, strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler.
MyCryptoParadise
iFeel the success🌴
BNBUSDT#BNB coin has formed a bullish pennant pattern, and if it breaks out from within the flag and maintains support above the resistance level, the target is set at $800. Binance continues to release excellent projects on its launchpad, which is one of the reasons for its rise. We may expect a significant upward movement in the near future.
💡Don't miss the great buy opportunity in BNBBTC %66My friends, I am intensively working on BNB. You can also review my previous analyses regarding BNB. I hold a positive view on BNB. The ecosystem is expanding, the BNB staking in launchpads, Binance's dominance in the sector, and the token burning policy until it drops below 100 million—all these factors are positive for BNB. As you can see, my past predictions have never been wrong. Now, I am expecting a 66% increase with a 5% risk factor. My expectations are actually higher, but this is what I can share with you.
#BNB/USDT LONG#BNB
The price has been moving in a bear flag since May 2022
We have a strong support area from which the price bounced, 203.60
We're about to go up
This rise is supported by the moving average breaking 100
And break the downtrend
The price now is 232.40
First goal 327.5 0
Second goal: 387.50
BNB NO MORE BULLISH BNB/USDT
In this trading view idea for the BNB/USDT pair, we observe a bearish sentiment in the market due to recent negative news. As a result, many traders are selling in fear, potentially leading to a decline in price.
Based on the current situation, it is expected that the price may drop significantly, possibly by around 30-50% from its current level. This projection is speculative and subject to market conditions.
Another potential scenario to consider is a temporary pump in price to panic sellers, This might be followed by a quick and substantial price drop as sellers react to the pressure.
It is important to note that this idea is presented as a personal opinion and should not be considered financial advice. Traders are encouraged to conduct their own thorough research and analysis before making any trading decisions.
BNB: WRESTLING THE RESISTANCE TRENDLINE.BNB Update:
BNB has remained calm and managed to maintain the $200 range quite significantly. With the current price level at $212, BNB is still under the threat of dipping down as it faces the resistance trendline. If somehow BNB manages to break and close above the resistance trendline, things may look different. If not, we have the $200-$203 support waiting for BNB.
What's your view on BNB, let me know in the comments.
Thank you for reading and trade safely.
Regards,
Team Dexter.
BNB price will collapse back to the $50 level in...Binance is on the verge of a complete and utter collapse. Much like the Luna collapse and the demise of FTX, Binance will be following in the footsteps of the aforementioned crypto scams. BinanceUSD will go to near ZERO as well. I firmly believe that Binance will go down as the biggest fraud in crypto for decades.
Avoid it like the plague!
I will be shorting this worthless ponzi scheme into the ground!
Bnb Not Looking strong Bnbusdt
If You Are Following me we already shorted bnb from 261$
This time my plan is also same bnb is not looking strong I am expecting price to breakdown this channel soon
Note : Do Your Own Research before taking any decision and if you think we are helping you kinfly make sure to support us
Happy trading
Good luck
BNBUSDT, Multi timeframe analysis to invest. Binance coinHello guys. Everything is explained on the chart for you like always, I think that BNB is a prestigious and unique coin. After decreasing phase, the price is in the accumulation phase and the ascending phase will start soon. So two good points to buy as a investment are 260$ and after breakout and pullback at 340$. You can consider it and monitor the price's actions in the circle to buy it.
Observe the capital management and stop loss for any unforeseen event in the market.
Good luck
If you like the idea, do not forget to support with a like and follow me for next analysis :)
Write your comment and opinion below for me
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Salam doostan aziz, hame chiz rooye chart moshakhas shode be dide sarmaye gozari boland modat baraye harkat soodi movaghate market. gheymat baad az faaz nazooli varede faaze anbaasht shodeh va bezoodi faaze soodi shoro khahad kard. pas 2 noghte kharide khoob rooye hemayat 260$ va ya baad az kharej shodan az anbaasht va pullback be 340$ hast. raftar gheymat dar dayere ha ro darnazar begirid. lotfan modiriyat sarmaye va hade zarar baraye har etefagh dar bazar ro ra'ayat konid.
moafagh bashid.
like va follow faramoosh nashe :)
BNB POTENTIALLY BULLISH AS DEPOSITORS INCREASEBNB flips potentially bullish VS Bitcoin as deposits increase on binance as FUD becomes less effective. There are some huge shorts on BNB right now but if the FUD fails they will have to close, being they are already in profit its seems likely they will have to buy into the order book to close the positions. I have taken a small long on BNB. For more information lookup TMG Trades on a common video website.
Strong bullish divergence on the 1hr BNB chart.
BNB/USDT - Possible Scenarios 🛠Some BNB/USDT thoughts on the 4H. Either way, not looking to take any trades until after the FOMC. Might be wise to sit on your hands until we get a clearer picture of how Q4 will likely play out.
Thought we'd do a quick BNB/USDT breakdown nonetheless. BNB is one of our favorite Top 10 coins that we believe has strong upside in the long term. 📈
Both these scenarios depend on the macro trend, but anything below $297 we'll be looking to pick up for long term HODL.
Bear or bull, we'll be sharing our trade thoughts daily here on TradingView!
Stay safe our there.
-TucciNomics
Chief Overlord, AlgoBuddy
BNB (The Moment of Truth )BNB / USDT
For all BNB lovers , I see BNB comes to light again and here is the complete analysis
Look here at BNB againt BTC chart :
Its already made a breakout and reached all new time high in silence during this bear market !!
The Moment of Truth :
Now look at the chart against USDT
The pair Is forming a clear descending broadinig wedge
And price is testing important resistance zone between 330-340$
If bulls succeed in Clearing out this resistance, we can see very strong bullish wave in coming days
What do you think about BNB in coming days ?
Let me know in comments section below ⬇️
+15%🚀in a few days. Where is the next entry point?BNB is one of the strongest altcoins. It will be one of the top gainer at the next bull market with high possibility. BNB made +15% after i published the idea but what you should do if you miss the entry point?
🚩I expect that pullback🔻reach the $234-244 value area which is HUGE support now. And here we should look for the reversal point to open our longs.
📊What we should expect after the collection of liquidity? BNB should start pump because big players accumulte enough liquidity as it was last time. Basically, I talked about it in this idea and it happend.
📊Preconditions to open a long:
🔥pullback to the support value area
🔥volume growth+liquidity collection. This two preconditions confirm✅ for us the pressence of big player who open it`s longs
🔥squeeze to the trendline
🔥bullish BTC help reach the targets for BNB much faster
The targets are again the closest value areas:
1️⃣ $255-260
2️⃣ $269-273
3️⃣ $295-308
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.