BNB broke key resistance at $665, signaling potential for a rally to $775.
Strong technical indicators, including the RSI and 200 EMA, suggest continued bullish momentum.
Increased Open Interest and trader participation support BNB’s upward trend and future growth.
Binance Coin has recently surged past a key resistance level, drawing attention from traders. After breaking through $665, BNB is gaining momentum. Market watchers are now asking: Can BNB hit $775 next? Let’s explore the key levels and factors driving this bullish move.
https://twitter.com/Valckrie/status/1860299729143251430?t=pOzTafus0r5ul-Z2dnfIqA&s=19 Technical Breakout and Key Levels to Watch
BNB recently broke out of a bullish flag and pole pattern. This is a strong signal that more gains could be on the way. The price action shows BNB is moving upward, with the $665 resistance level now surpassed. If BNB can hold above $670 and close a daily candle at this level, the next target could be $775.
BNB is currently trading above the 200 Exponential Moving Average (EMA), indicating an upward trend. The Relative Strength Index (RSI) also suggests more room to grow. With the RSI pointing upward, BNB has plenty of potential for further gains. If the $670 level holds, the path toward $775 remains clear.
Bullish On-Chain Metrics Confirm the Trend
BNB’s on-chain metrics back up this bullish outlook. Open Interest (OI) has jumped by 11.25% in the last four hours, indicating strong trader interest. More traders are positioning themselves for future gains, pushing the price higher.
Liquidation data shows traders were over-leveraged at $656 and $683, suggesting many are betting on BNB’s continued rise. This growing interest adds confidence to the upward movement. Over the past 24 hours, BNB has gained 7.5%, with trading volume also rising by 7.5%.
This shows that more traders are becoming involved, fueling the rally. As BNB continues to break through key resistance, $775 is now in sight. With strong technical and on-chain signals backing up this rally, BNB could reach new heights soon.
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