The price of BNB silently, eyes of 1,000 dollars as a technique, alignment of the size of the derivatives star-news.press/wp

The BNB price was stuck in the narrow range today, as it is trading at 846 dollars, with a slight decrease from its highest level ever, which is $ 885. This monotheism is not unique. Instead, it is part of the encryption market work where merchants await Jackson Hall’s speech. However, strong technical technologies and derived data indicate more bullish direction.

BNB price may wear $ 1,000 soon

The Binance Coin price was good in the continuous Crypto Market run race. He jumped from $ 500 in February to 850 dollars today, with the help of strong basics, including three network promotions.

The daily timeline scheme shows that the currency has been over the weighted moving average for 50 days (EMA). More importantly, the BNB price has exceeded the important resistance level at $ 792, which is its highest level in December last year.

It was also a noticeable price because it was the upper side of Cup and handle (C & H) graph style. C & H is a continuing pattern consisting of horizontal resistance and round bottom. Once this section is over, the coin is transmitted to the handle section, which is usually uniformity or retreat.

Binance Coin Price has now moved over the upper side of the cup, confirming the upscale collapse. More importantly, I have nullified the double style at $ 860.

Therefore, the BNB code is likely to continue to rise as buyers aim to the next main goal at $ 1,000. It needs about 20 % jumping to confirm the climb Bennes currency price look To $ 1,000.

There are signs that the currency will jump much higher. This opinion depends on the depth of the cup, which is about 37 %. Measuring the same path brings the target to $ 1100.

On the other hand, a decrease below the upper side of the cup at 792 dollars will cancel the ups of the ups.

Binance derivative data indicates more gains

The BNB currency price has many stimuli that will push it up in the short term. One of them is the fact that the activity in the derivative market flourishes.

For example, the open future interests jumped to a record level of $ 1.5 billion, and continued in the upward trend that started a few months ago when it reached less than $ 500 million.

The high open interest is a sign of a strong demand from merchants and investors. It is also a major sign of coin liquidity.

Another important scale in the derived market is Funding rateThat has stayed in Al -Akhdar in the past few weeks. These are important data looking at how to perform bulls and bears in the market.

The green financing rate means that investors expect the price of the future to be higher than the current price.

The BSC series ecological system flourishes, with the total closed value and stablecoin activity that acquires steam. Some of the major artists in the ecosystem are pies and pots, which deal with billions of transactions per day.

Related questions (common questions)

The most likely expectations are where you continue to rise this year and reaches the important resistance level at $ 1,000.

The main catalyst for the BNB price is that it looks like a cup style and standing, and the high size of its derivatives.

It is not clear when the battle currency price will rise between the columns and reaches $ 1,000. However, there are possibilities for this to happen later this year.

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CRISPUS is an experienced financial analyst in CoingApe with over 12 years of experience. It focuses on Bitcoin and other altcoins, which covers the intersection of news and analysis. His visions were shown on famous platforms such as banklestimes, Coinjournal, Hypeindex, Seekingalpha, Forbes, Investingcube, Investing.com and MoneytransFers.com.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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