- BNB is buying and selling above $762 after a robust 9% weekly acquire, closing at its highest-ever weekly stage.
- Open Curiosity in BNB futures hit $1.05B, displaying sturdy bullish bets and fueling momentum.
- A push above $793.86 might ship BNB into value discovery mode, however RSI warns of short-term overbought situations.
BNB (yeah, the artist previously often called Binance Coin) is heating up once more. As of Monday, it’s dancing above $762, recent off a weekly shut that marked its highest ever. The token gained over 9% final week, and the indicators are stacking up that extra upside could possibly be within the playing cards. Derivatives knowledge is backing the bulls too—Open Curiosity (OI) simply smashed by to a brand new yearly excessive.
$1.05B in OI? Somebody’s Betting Massive
In keeping with CoinGlass, futures Open Curiosity for BNB has surged to $1.05 billion—up from $829M only a few days in the past. That’s not small potatoes. It often means new cash is flowing in and merchants are opening recent lengthy positions. Mainly, persons are feeling daring.
OI leaping like this tends to pump the value, particularly when there’s already momentum within the tank. And proper now? BNB’s clearly acquired gasoline to burn.
Can BNB Crack $793 and Fly?
Trying on the weekly chart, BNB’s been on a tear—ripping over 9% to shut final week at $756.82, its highest weekly candle but. And it’s not slowing down. Early this week, value pushed previous $760, eyeing that all-time excessive at $793.86.
If this rally retains tempo and consumers don’t blink, BNB couldn’t solely retest that prime however break into value discovery. Some bulls are already pointing to a Fibonacci extension at $956.92—yeah, that’s bold, nevertheless it’s on the map now.
The weekly RSI sits at 66, comfortably above impartial and flashing stable momentum. MACD? Additionally bullish, with inexperienced histogram bars nonetheless pushing upward since that Might crossover.
Quick-Time period View: Trying Scorching, Perhaps Too Scorching
On the each day chart, BNB broke out of a falling wedge final week and smashed by $709.29, then made a clear shut above resistance at $742 on Sunday. As of Monday, it’s holding above $760.
Right here’s the catch although: the each day RSI is at 83, which is deep in overbought territory. That doesn’t assure a reversal, nevertheless it’s a yellow flag. Nonetheless, MACD’s bullish crossover from early July is unbroken, and people rising histogram bars present consumers aren’t accomplished simply but.
If issues do quiet down, first assist is round $742, and a deeper drop might discover footing close to $709.29. But when bulls maintain the road, this may simply be the warm-up for a correct breakout previous $793.86.
The put up BNB Flirts With All-Time Highs As Bulls Dig In first appeared on BlockNews.