🚀 BNB Skyrockets on $2B Boost — Is $1,250 the Next Stop?
On August 12, Abu Dhabi-based MGX announced a $2 billion investment in Binance, setting a new record.
The stablecoin-funded transaction is the biggest cryptocurrency firm investment ever. BNB rose 15% in 48 hours after the announcement, smashing resistance levels and hitting an all-time high of $864.
As Ethereum and BNB approach record prices and Bitcoin reaches a new high, corporate demand for big cryptocurrencies rises.
Despite the euphoria, technical signs imply short-term caution. BNB is overbought, with an RSI over 70, suggesting a short-term downturn.
The MACD line is far above the signal line and the histogram bars are green, indicating bullish momentum.
Key resistance around $861.10 might drive momentum buying toward $900 and the $950–$1,000 zone within 30 days if broken. Support is at $820–$830, with stronger levels at $730.01 and $639.16.
Over $345 million was moved in the preceding 24 hours, signaling liquidity for greater swings. Moving averages from 7-day ($819.47) to 200-day ($652.67) all rise, confirming the uptrend.
Analysts are cautiously optimistic. BNB might reach $1100–$1,250 in a month if it overcomes $861 barrier and remains above $850. A little RSI retracement might be a good entry opportunity before the next wave upward.
Failure to remain above $850 might lead to a 13% loss to $730. A further decline to $639 is unlikely given present fundamentals, but it's possible if the market becomes negative.
