- BNB reversed $ 640 in the support, so that the milestone of $ 700 was brought within the reach in the midst of a confirmed outbreak of long -term resistance.
- Open interest climbed to $ 840 million, which signaled a greater capital influx and the growing trust of the trader in the upward trajectory of BNB.
Binance Coin’s [BNB] Showed renewed strength after holding company above the support level of $ 500.
That floor remained strong.
This price level experienced three rejections that eventually led to a bullish breakout above the supply zone around the psychological level of $ 640.
Source: TradingView
The rebound above this level also turned around a long -term downtrend line, which was a sign of a possible shift in the market structure.
An earlier acting barrier is now a question zone – a sign of changing bullish momentum.
Bullish accumulation after re -testing a new demand zone
After the outbreak, BNB briefly withdrew to test the $ 640 zone. Instead of breaking down, the price has set new support, which confirms the Rolomation of Delivery for Support.
In fact, the retest attracted a stronger purchase volume. It indicated that bulls were not only present – but under control.
With $ 640 now defended, higher price goals are no longer speculative – they are probably.
Liquidity for $ 730 and the purpose of $ 700 in sight
The next goal that is so clear is at the level of $ 700.
It is not just a psychological level – it is a step towards a liquidity cluster for $ 730. Prices usually push such liquidity clusters, especially when the momentum builds up.
BNB traders seem to set sights at this undisputed place, and as such the movement can be more than speculative to $ 700 – it can be structurally supported.
Bnb open interest rally improves the bullish story
Returned from the technical setup, the open interest rose by more than 10% to touch the $ 840 million press. The increase shows higher capital inflow in derivatives, which means that increased market confidence.
It is known that the growing of open interest the volatility of the fuel and trend extension of fuel, especially in combination with a solid technical setup such as the recent BNB outbreak.
Source: Coinglass
BNB currently cherishes in a wave of Bullish Momentum that is fed by technical developments and market participation.
If the trend persists, $ 700 could be the next important obstacle, one that will hopefully be short -lived, given the untouched liquidity above $ 730.