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BNB flipped $640 into support, putting the $700 milestone within reach amid a confirmed breakout from long-term resistance.
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Open Interest climbed to $840 million, signaling increased capital inflow and growing trader confidence in BNB’s upward trajectory.
This article explores BNB’s bullish momentum following substantial price movements and an upsurge in trader interest, emphasizing critical resistance levels and market implications.
Technical Breakout and Shift in Market Structure
Binance Coin’s BNB showed renewed strength after holding firm above the $500 support level. This price level experienced three rejections that eventually led to a bullish breakout above the supply zone around the $640 psychological level.
The rebound above this level also reversed a long-term downtrend line, indicating a potential shift in the market structure. A previously acting supply barrier is now a demand zone—a sign of shifting bullish momentum.
Source: TradingView