š BNB Closes Strongest Week EverāATH Breakout Loading? ā”š
BNB finishes at $765.22, a record weekly high, up 10.00%.
On Monday, derivatives statistics show BNB Open Interest at its highest annual level of $1.05 billion, indicating investor confidence.
Technical indicators imply a surge past $793.86, its all-time high.
After closing at its greatest weekly level and rising over 9% last week, BNB (BNB), previously Binance Coin, is trading over $762 on Monday. Open Interest (OI) reaches an annual high of $1.05 billion, indicating increased investor interest, supporting a bullish view. Technical analysis shows the rally might reach $793.86, its all-time high, and enter price discovery phase.
Annual Open Interest for Binance Coin peaks at $1.05 billion.
CoinGlass data reveals that exchange BNB futures OI hits a new annual high of $1.05 billion on Monday from $829.50 million on Wednesday. OI increases indicate fresh money entering the market and purchasing, which might accelerate the BNB price surge.
BNB Price Prediction: All-time highs
BNB finished at $765.22, its highest weekly level ever, after rallying more than 9%. Starting Monday, it trades over $760.
BNB might reach its all-time high of $793.86 if it keeps rising. A solid closure above this level might extend gains to its 141.40% Fibonacci extension milestone at $956.92, derived from the August low of $400 to the December all-time high of $793.86.
On Wednesday, BNB broke above the upper trendline of a falling wedge formation and touched $709.29 on the daily chart. It closed above weekly barrier at $742 on Sunday, continuing its rise.
The weekly level of $742 might help BNB rise to its December 4 all-time high of $793.86.
BNB may fall to its weekly support at $709.29 if it corrects.
