BNB has made a notable move, breaking through its key resistance level at $634.85, signaling the potential start of a new bullish trend.
has made a notable move, breaking through its key resistance level at $634.85, signaling the potential start of a new bullish trend.
With key technical indicators flashing bullish signals, all eyes are now on BNB’s ability to hold above this crucial level.BNB’s recent price action reveals a decisive breakout from its symmetrical triangle pattern, which had kept the token’s price range-bound for several weeks. This level now flips to support, which is crucial for BNB’s ability to continue moving higher. The immediate question is whether BNB can maintain this upward momentum and push toward its next resistance zones around $680 and $700, or if the price will face a retracement.BNB’s Relative Strength Index sits at 58.84, indicating that the asset is slightly in bullish territory but not yet overbought.
This rise in social activity often accompanies price rallies, suggesting that more traders and investors are starting to take notice of BNB’s recent price action. If this trend continues, it could help fuel further upward movement in the short term.The open interest has risen significantly by +6.74%, reaching $973.10 million. This increase indicates that more traders are opening positions in anticipation of continued price action, reflecting growing confidence in BNB’s bullish prospects.
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