Binance founder Changpeng Zhao (CZ) is about to end his four-month prison sentence in the United States, news that has attracted widespread attention in the cryptocurrency market. Currently, BNB is in a key uptrend, with the price approaching recent highs. The market generally expects that CZ’s return will have a significant positive impact on BNB price trends.
On a technical level, BNB has shown strong upward momentum. The price has broken above the 50% Fibonacci retracement level at $587 and may test the 78.6% Fibonacci level if the current upward momentum is maintained. Currently, BNB is trading around $65,300, and if it can break out of the $615 to $620 range, it could make a further sprint to $650 or even higher.
However, it should be noted that although the market is optimistic about Zhao Changpeng's return, the cryptocurrency market is still full of uncertainty. BNB may encounter greater resistance when it hits the $600 mark. If it cannot effectively break through, it may trigger a price correction and consolidation. Therefore, investors should remain cautious when operating and pay close attention to market dynamics.
Additionally, Binance’s new pre-market trading service may further drive demand for BNB, which is also a positive sign. However, market participants should also be wary of any possible price manipulation and ensure that their investment decisions are based on comprehensive market analysis.
To sum up, BNB’s recent trend looks quite optimistic, but market participants should remain vigilant and manage risks well.
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