BNB (BNB) Price Prediction for July 24
Main Idea
BNB's price is experiencing a bullish trend, breaking past key resistance levels with strong volume and momentum, and is poised for further gains if current support levels hold.
Key Points
1. BNB is trading near $794 after breaking above the $675 to $700 supply zone, supported by strong volume and bullish market structure.
2. The daily chart shows a confirmed breakout from a compressed structure, with the next potential resistance near $850.
3. Derivative analysis indicates a 24% increase in open interest to $1.28 billion and a 17.75% rise in volume to $2.21 billion, with a long-short ratio above 1.7 favoring bulls.
4. Technical indicators like EMA alignment, Bollinger Bands expansion, and RSI cooling suggest strong bullish momentum but hint at a potential short-term cooldown.
5. Short-term outlook predicts BNB could target $815-$850 if it holds above $768, with a fall below $742 possibly triggering a deeper pullback.
Description
BNB is pushing higher, currently trading near $794 after a clean break above the $675 to $700 supply zone. The rally follows a structural shift that began earlier this month and is now backed by strong volume and long-dominant derivatives positioning. What’s Happening With BNB’s Price? BNB price forecast (Source: TradingView) On the daily chart, BNB price has confirmed a breakout from a compressed structure that previously faced repeated rejection. The move past $700 was accompanied by a wide bu...
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