According to the technical analysis of BNB, a new all-time high is imminent

After the beginning of CZ's sentence, BNB had an almost 6% increase in value over the course of the last several hours.

As a result of the recent rise, the open interest (OI) in BNB has climbed by 24% over the course of the last twenty-four hours, which indicates that investors are paying more attention to the asset.

On the other hand, open interest refers to the total number of futures or options derivative contracts that are still outstanding within a certain time period and have not yet been settled.

Throughout the course of its history, the price of BNB has often corresponded with an increase in OI, which suggests that the token may be poised for further price increases.

In the event that the increased investor interest continues, it is possible that BNB may advance over the resistance level of $646 and reach values that were last seen in 2021. Before breaking above the $646 barrier, however, it may lose roughly three percent of its value in order to gather liquidity at the daily imbalance that ranges between sixty-one dollars to six hundred and forty-nine dollars.

When taking into account the fact that BNB is one of the large-cap tokens that have not yet reached an all-time level in the current bull cycle, it is possible that it will attempt to surpass the all-time high of $686 that was reached on May 10, 2021.

In the event that BNB goes below $587, the bullish argument will be rendered untenable.

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