- BNB overturned $ 640 in support, putting the milestone of $ 700 at the middle of an escape confirmed by long -term resistance.
- Open interests increased to $ 840 million, reporting an increase in capital entrances and increasing confidence in traffic in the upward trajectory of BNB.
Binance Coin (BNB) showed a renewed force after maintaining a company above the support level of $ 500.
This floor was strong.
This price level experienced three refusals which finally led to a bullish escape above the supply area around the psychological level of $ 640.
Source: tradingView
The rebound above this level has also reversed a downward long-term line, which was a sign of a potential change in the market structure.
A barrier of the actor supply is now a request area – a sign of a changing bullish momentum.
Bullish accumulation after retesting a new request zone
After the escape, BNB fell briefly to test the $ 640 zone. Instead of breaking down, the price has set a new support, confirming the reversal of the roles of the offer to the support.
In fact, the Retest has led to a stronger purchase volume. He pointed out that the bulls were not only present, but in control.
With $ 640 now defended, higher price targets are no longer speculative – they are likely.
Liquidity at $ 730 and the target of $ 700 in sight
The next target that is so obvious is $ 700.
It is not only a psychological level – it is a springboard to a liquidity cluster at $ 730. Prices generally push for such liquidity clusters, especially when the momentum accumulates.
BNB traders seem to be viewed in this unmountained place, and as such, assembly around $ 700 could be more than speculative – it could be structurally sustained.
BNB’s open interest rally improves the Haussier story
Sinting the technical configuration, an open interest jumped 10% to reach $ 840 million at the time of the press. The increase shows higher derivative capital entrances, which means increased market confidence.
An increasing open interest is known to supply volatility and extension of trends, in particular if it is combined with a solid technical configuration such as the recent BNB escape.
Source: Coringlass
The BNB is currently rushing into a wave of bullish momentum fueled by technical developments and market participation.
If the tendency supports, $ 700 could be the next important obstacle, which, hope, will be short-lived, given the unexploited liquidity greater than $ 730.
