#BinanceHODLerC
Analysis: BNB rises, approaching its all-time high
BNB has surpassed the limit of US$ 720 after exceeding US$ 700 for the first time since the rejections in the second quarter. Currently, it is in an important sell zone, just below its all-time high. This is a critical region, but if it manages to consolidate or continue rising, new highs may be reached.
Main resistances:
US$ 764: Immediate resistance and recent daily high, where the price was strongly rejected.
US$ 793: All-time high of BNB. Surpassing this high with volume would pave the way for new highs, possibly around US$ 820.
Relevant supports:
US$ 731: Immediate support where the price showed a strong upward reaction.
US$ 713: Next support level, coinciding with the 200 EMA.
US$ 675: Stronger support in case of a deep correction; low of July 15.
The RSI, at 55 points, indicates slight buyer dominance and suggests a consolidation phase.
Important facts about BNB to keep in mind:
Wallets with more than 10,000 BNB have dropped to the lowest level in almost three months, indicating a reduction in positions by some large holders. At the same time, whales in other assets are increasing their investments, suggesting a rotation to other altcoins.
Currently, the price of BNB is just 5.7% away from its all-time high of US$ 793.
On the other hand, the BNB Chain is developing a new blockchain, faster and more efficient. The goal is to reduce transaction confirmation time to less than 150 milliseconds and achieve more than 20,000 transactions per second.
"The next generation of the BNB Chain will offer:
Conclusion in less than 150 milliseconds for almost instant confirmations.
More than 20,000 transactions per second to support complex and large-scale interactions on the chain.
User experience akin to Web2 with ownership and control of Web3.
It is fast, flexible, and decentralized. Most importantly: designed for people.
