BNB Aims for New Highs with Positive Signals

BNB has established strong support at $491, indicating bullish potential. A liquidation pool of 372,000 BNB at $522.5 could further drive prices upward.

Azcnews Bnb Aims For New Highs With Positive Signals

Binance Coin (BNB) is exhibiting bullish momentum as it tests a critical support level, hovering near the $491 mark. This support zone has consistently been a notable point for buyers, as evidenced by repeated rebounds from this level. The robustness of this support suggests that BNB could be gearing up for a bullish reversal.

The BNB price chart displays the formation of a bullish pattern, with prices adhering to an upward trendline over time, indicating increasing buying pressure. This suggests that if the trend continues, the token might surpass significant trendline resistance levels as it aims for a target of $555.

Will the liquidation pool of BNB fuel this bullish momentum? According to Coinglass liquidation data, there is a massive liquidation pool of 37,200 BNB at a price around $522.

Bnb Chart
Bnb Chart

Historically, sudden price surges often occur when such concentrated orders are involved during liquidation. As the exchange rate approaches this level, a short squeeze could quickly propel the price toward the $555 target.

Over the past months, it appears there have been no significant changes in the open interest data for the BNB Exchange. Despite some recent price fluctuations, the level of open interest has remained relatively stable.

This stability indicates consistent participation from market players. Such steadiness in open interest might provide ample liquidity for any potential upward moves.

Bnb Liquidation
Bnb Liquidation

Eyes on $555

Current market prices and on-chain metrics suggest that BNB could be in a bullish state, even though the cryptocurrency market remains highly unpredictable.

The strong support at $491, coupled with a substantial liquidation pool at $522.5, creates an intriguing setup for a potential price rally.

Love

0.0/5

Love

Latest

Crypto Hacks Surpass $1.6 Billion In Q1 2025

News | Editor Choice | Policy & Regulations

Crypto Hacks Surpass $1.6 Billion in Q1 2025

Crypto hacks caused over $1.63 billion in losses in Q1 2025, a 131% year-over-year increase, with the Bybit breach alone accounting for 92% of the total damage.

Binance Halts Usdt Trading In Europe

News | Editor Choice | Policy & Regulations

Binance Halts USDT Trading in Europe

Binance halts spot trading of USDT in Europe to comply with MiCA regulations, but users can still hold and trade it through perpetual contracts.

How To Participate In Recall Airdrop

Editor Choice | Airdrops

How to Participate in Recall Airdrop

Join the Recall airdrop hunt! The project has successfully raised $30 million and is currently hosting campaigns on Galxe and Zealy for users to earn points.

Pi Price Officially Hits Bottom Bottom Fishers And Loss Sellers

Editor Choice | Pi Network

PI Price Officially Hits Bottom: Bottom Fishers and Loss Sellers

Recently, the price of Pi officially plummeted to $0.68, reaching its lowest point since listing. As a result, two opposing opinions have emerged within the community.

The Market Signals An Incoming Altcoin Season

News | Bitcoin | Editor Choice

The Market Signals an Incoming Altcoin Season

The market is signaling an upcoming altcoin season as Bitcoin dominance weakens and technical indicators align.