Binance Coin is witnessing a strong growth wave after maintaining crucial support at the $500 level. This price zone has been challenged multiple times but remains resilient, indicating significant buying strength.
$500 – A Solid Foundation Paving the Way for Growth
The fact that BNB holds above the $500 region not only reinforces investor confidence but also paves the way for a clear breakout from the supply zone around the psychological level of $640. In the past, this area has been a strong barrier that caused the price to be rejected three times. However, this time BNB has successfully surpassed it, signaling a significant shift in market structure.
From Resistance to Support – A Sign of Money Flowing In
After surpassing $640, the price returned to test this area once again. Instead of collapsing, BNB has established a new price base here, confirming the new role of $640 from resistance to support. This indicates that market sentiment is clearly leaning towards the buyers. Moreover, trading volume has also increased significantly during the retest, reinforcing the ongoing upward trend.
Next Target: $700 and the Liquidity Cluster at $730
The price level of $700 is now not only a mere psychological milestone but also a stepping stone towards the untapped liquidity area at $730. In financial markets, such liquidity clusters are often the destination for price pushes, as they concentrate a large volume of stop-loss and take-profit orders.
With the current upward momentum and strong support from the $640 zone, the $700 target is no longer a distant goal. Approaching this level will serve as a stepping stone to test the $730 region – where there is a high likelihood of triggering further upward momentum if surpassed.
Open Interest Surges – Money Flows Into Derivatives
Not only is the technical factor supporting the upward trend, but market data also shows increasingly strong participation from investors. Open Interest (OI) – the total value of outstanding derivatives contracts – has risen by over 10%, reaching $840 million at the most recent update.
This is a clear signal of money flowing into BNB's derivatives market. An increase in OI means that more investors are opening new positions, increasing volatility and the potential for the current trend to expand – especially when combined with a solid technical model.
Conclusion
BNB is enjoying a powerful growth wave, supported both technically and by market money flow. If this momentum continues, the $700 level is not just a short-term target but could also serve as a launchpad for the price to approach the attractive liquidity cluster at $730. Investors should closely monitor price reactions around this region to formulate appropriate strategies.