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BNBUSDT

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!
Long
by DEXWireNews
BNB SWING LONG IDEA - ALTCOIN SEASON - BNB CHAINBNB is one of the most stable coins in the crypto market. With Binance officially backing it, BNB is relatively safer compared to other altcoins. Technical Analysis: The price hit and wicked into the monthly demand zone during the August 5th dump, showing a strong rejection and initiating an upward trend. This move established a weekly demand zone by breaking the weekly structure, and as it did so, it created a daily demand zone, which is a significant area for me. Currently, the price is back into the daily demand and has reached the optimal trade entry zone according to the Fibonacci levels. I anticipate an upward movement from here in the coming days. Targets: The initial target is $613-$619, with potential to reach the all-time high at $722. Note: Watch out for the U.S. Presidential Election, as it may cause volatility with long wicks that could stop out positions.
Long
by UA_CAPITAL
BNBUSDT todayBNBUSDT is currently trading around $561.56, and it remains within a descending channel, showing clear bearish sentiment. However, a short-term rebound may be on the horizon as the price has reached a key support zone around $550, which could trigger a temporary upward movement. The chart indicates a potential bounce towards the resistance area around $578.63. If this level holds, it would provide a good opportunity for sellers to re-enter, possibly driving the price back down toward the channel's lower boundary.
Long
by Sanhara
1
BNBUSDT: Potential Downside Direction Ahead !In today's trading session, BNBUSDT is facing clear bearish pressure after breaking the important support zone around $573. The EMA 34 and EMA 89 show that the downtrend is strengthening, and the price has now continued to fall to the $560 area, below the important moving averages, marking a weak signal in the short term. It is expected that BNBUSDT may continue to correct to the next support levels at $548 and $534 if the selling pressure does not decrease. Moreover, if there is no support signal from positive news or strong price action bounce from the support zone, BNB is likely to fall deeper in the coming period.
Short
by Trader-Saylor
Will BNB stay above the local upward trend line?I invite you to take a quick look at the BNB to USDT pair chart, taking into account the 8-hour interval. As you can see, the valuation recorded a dynamic decline and quickly returned to the border of the local upward trend line, where it is struggling to maintain the level. You can see here that the 0.618 Fib level turned out to be a strong resistance that effectively stopped the growth. The current resistance for growth will be the level of $592, then we can see resistance at the level of $604, and then the level of $611 and the level of $621 will be important. Looking the other way, first of all, you need to take into account the level of $576 as an important support, then the level of $566 is important, and then visible support is at the price of $538.
by cryptodailyuk
Can BNB reach around $1000 ?...The BNB is in a ascending triangle now which means the price will increase and also It is expected that the price would at least grow as good as the measured price movement(AB=CD) Note: we should wait for the breaking of the triangle and than make a move! See my first anaysis on BNB in 2020 ✨We spend hours finding potential opportunities and writing useful ideas, we would be happy if you support us. Best regards CobraVanguard.💚 _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
Long
by CobraVanguard
1
BNBUSDT Up trend continuationBNBUSDT is currently consolidating just below the psychological level at 600, having formed a double top, suggesting a potential pullback toward the support level. Zooming out, we can observe an ascending triangle pattern with higher lows, indicating accumulating buying pressure. The market appears likely to continue consolidating within the 570-600 range before a potential breakout. A bounce off the channel border and trendline, located at the bottom of this range, could serve as a strong rejection signal. Such a move would imply renewed buying interest, possibly leading to a continuation of the upward trend. The target is the resistance zone around 600
Long
by RTED_Investing
2
Binance Coin Long Setup Setting / Next Alt-Season BasketBINANCE:BNBUSDT OKX:BNBUSDT 📈Which side you pick? Bull or Bear SL1 ---> Low-risk status: 3x-4x Leverage SL2 ---> Mid-risk status: 5x-8x Leverage (If there is just one SL on the chart, I suggest, low risk status) Considering the price trend in its previous channel, by repeating the stabilization of the price at the bottom of the second parallel channel, it can be expected that the price will continue to move up to the top of the new channel. The price breaking above the specified level can increase the certainty of the realization of the price target. The price falling below the red level cancels the bullish scenario of Binance Coin. Potential price targets for the levels will be $950 and $1,447. 👾Note: The setup is active but expect the uncertain phase as well. also movement lines drawn to predict future price reactions are relative and approximate. ➡️Entry Area: Yellow zone ⚡️TP: 950 1447 2340 3515 🔴SL: 252 🧐The Alternate scenario: If the price stabilize against the direction of the position, below or above the trigger zone, the setup will be canceled.
Long
by CrazyS
BNB/USDT 1day chart analiysis. BNB is currently trading at around $584, moving within a tightening consolidation pattern. This pattern is bounded by a symmetrical triangle, with the upper trendline acting as resistance and the lower trendline as support. The green line at approximately $713 represents a significant resistance level. A breakout above this level could indicate a strong bullish movement and potentially open up higher price targets. The chart includes a red and green moving average, representing short-term and long-term trends, respectively. The price currently sits close to the red line, indicating that it’s approaching a critical point. An upward arrow indicates a potential breakout scenario above the resistance level. This suggests that if BNB breaks out of the triangle pattern and crosses the $713 resistance level, it could continue its bullish momentum toward higher price zones. In case of a rejection at resistance, the dotted green path suggests that BNB might retrace to retest lower levels, potentially finding support around $520 or even lower within the triangle. A breakout above $713 could trigger a bullish continuation, making BNB attractive for swing traders looking for upward momentum. A failure to break the upper trendline may see BNB consolidating further within the triangle or dropping to lower support zones. Disclaimer: This analysis is for informational purposes and is not financial advice. Always stay updated with market movements and adjust your trading strategies as needed. You can DM us for information on any other coin. @Peter_CSAdmin
Long
by CryptoSanders9563
BNB/USDT 4h chart review Hello everyone, let's look at the current situation of BNB in ​​the USDT pair considering the four-hour interval. In this situation, we can see how the price, despite the rebound, remains above the local upward trend line. Let's start by setting goals for the near future, which include: T1 = $613 T2 = $626 T3 = $652 Now let's move on to the stop-loss in case the market continues to decline: SL1 = $592 SL2 = $579 SL3 = $559 SL4 = $545 Looking at the RSI indicator, the recovery resulted in a significant move on the indicator, but there is still room for a larger decline.
by cryptodailyuk
BNBUSD / OVERALL DOWNWARD PRESSURE / 4HBNBUSD / 4H TIME FRAME HELLO TRADERS Current Status , Prices are attempting to stabilize above 585.4 ,If successful, the price is expected to rise towards a supply zone between 605.8 and 619.1. Uptrend Confirmation , For an uptrend to be confirmed, the price must break above the supply zone between 605.8 and 619.1. Downtrend Scenario , If prices break below 585.4, it indicates a likely decline towards a demand zone between 571.8 and 565.5 , To confirm a downtrend, prices would need to break below this demand zone. Range & Direction , The price is currently fluctuating between the supply and demand zones. Breaking either side of this range will help determine the future direction. General Market Sentiment, Despite the analysis of potential movement in both directions, the overall tendency suggests the prices are under downward pressure. Supply Zone : 605.8 and 619.1. Demand Zone : 571.8 and 565.5.
BINANCE:BNBUSDShort
by ArinaKarayi
1
Binance Coin (BNB)The world's largest crypto exchange by volume, Binance continues its push into the embattled crypto mining industry with a plan to begin offering a crypto cloud mining product next month. crypto miners have had a tough year, with the price of bitcoin having hung around $20,000 for months, a far cry from its peak above $68,000 in November 2021. Other cryptos have faced similar or even worse declines. One of the largest mining-related firms in the U.S. filed for Chapter 11 bankruptcy in late September. Other companies, however, are seeing opportunity from this crisis, with CleanSpark going on a buying spree of mining rigs and data centers, and DeFi platform Maple Finance starting a $300 million lending pool Binance Pool announced its own $500 million lending fund for bitcoin miners last week and said it would enter cloud mining, a service that allows investors – who otherwise might not be able to buy and operate their own equipment – to rent crypto mining machines. The official launch of the cloud mining service will come in November. BNB can back to 300 in a short time but 195 is a good price for entry and long term investment
Long
by moonypto
8
Positioning for Potential: $BNB Set to Break Out!I think it’s time to consider taking a position in $BNB. It has been ranging for a while, and the weekly timeframe is finally showing some strength. I’m anticipating a break of the purple line within this week, or by next week at the latest. The time@mode is still to be confirmed, and the Point of Control is just a few percentage points away from current prices. The bi-weekly chart looks much more constructive compared to other timeframes, so it’s definitely something to keep an eye on. Also, be prepared to play betas on this one; Simon’s Cat is one to add in case CRYPTOCAP:BNB goes on a rampage toward $1k.
Long
by ZelfTrade
Binance $1000Couple of months ago i made an idea where i said BNB was going into price discovery: Which it did, but then it retraced the movement and crushed all bulls. Making a nasty fake breakout. I'm trying to long again this time, because the price as recovered since then and has been strong testing the resistance made from $600. I'm very convinced we will be seeing BNB skyrocketing to 1k. Binance is the most profitable business in the whole crypto industry. Stay frosty.
Long
by lomaxrex
1
BNB/USDT Trading Scenario UpdateAt the beginning of 2024, after a short-term accumulation phase, BNB showed a significant increase, reaching a local maximum of $723.5. This growth amounted to more than 140% from previous levels. Currently, the asset is in a prolonged accumulation phase, which has been ongoing since March until the present day. From a volume profile perspective, the current price zone represents significant interest for market participants. It is also important to note the shift of significant volumes and the Point of Control from the $315 level to $584. The shift of the POC to a higher level ($584) indicates that market participants are showing interest in buying at higher prices, which in turn could serve as a prerequisite for sustainable price growth in the future. A breakout of the local maximum level at $723.5, followed by consolidation above, could open up the potential for further growth of BNB. If this resistance level is successfully overcome, the asset may enter a bullish trend phase with new price targets.
by Rick_SimpleSwap