BNB Price Nears $1,500 Record High Amid 16% Rally and Bullish Momentum
The price of BNB has surged over 16%, trading above $1,350, surpassing Bitcoin and Ethereum. This recovery is driven by optimism about a potential spot ETF approval and confidence in the Binance ecosystem.
- The rally follows a sell-off due to geopolitical tensions, with a rebound fueled by whale accumulation and institutional inflows.
- Daily trading volume increased by 55% to $10.7 billion, with open interest rising 25%, indicating new leveraged positions.
- Traders anticipate a move toward $1,450–$1,500, potentially setting a new all-time high for BNB.
CZ on BNB Price Rally
- Binance founder Changpeng Zhao (CZ) attributes BNB’s strength to genuine market demand, not artificial liquidity support.
- CZ highlights community belief, builder activity, and deflationary mechanisms as key factors in the price recovery.
- Contributions from the BNB Chain ecosystem, such as Venus and Binance, have bolstered user protection during volatility.
- Analysts note CZ's transparency reassures traders that the rally is fundamentally driven.
Technical Analysis
- BNB’s breakout above $1,236 resistance has triggered bullish momentum; RSI is near 65, indicating strong conditions.
- MACD crossover and volume spikes suggest further upward potential, with targets at $1,400–$1,452 and $1,500.
- Support levels are at $1,192–$1,220, though profit-taking around $1,350–$1,400 might lead to brief consolidation.