BNB’s breakout from a falling wedge indicates a potential rise to 800 USD. Currently at 712.51 USD, it ROSE by 1.24% in a day. Crossing the 722 USD resistance could drive significant price growth, while failing may revert it to the 649 USD support level.
Active addresses on the BNB Chain reached 751,000, indicating enhanced network interaction. This growth highlights investor interest. Sustained activity could affirm further price increases while maintaining momentum. However, the slowdown in development activity with a score of 0.134 indicates potential innovation challenges.
Higher open interest in derivatives at 829.35 million USD and a 27.84% jump in options volume show optimistic sentiment on BNB’s price. However, a 0.53% decline in transaction volume suggests caution among some traders. Consistent engagement is essential to sustain bullish trends.