After a sharp weekend drop, Binance Coin (BNB) regained bullish momentum, rebounding to a new all-time high at $1,370, according to TradingView data. The daily chart shows a cup-shaped recovery pattern, bouncing from the Fibonacci 0.5 retracement at $1,085 and reclaiming the Fair Value Gap (FVG) around $1,231, which now acts as short-term support.
⸻
Technical Outlook
BNB remains in a clear uptrend, forming higher highs and higher lows since late September.
• Break above $1,370 could extend the move toward the psychological $1,400 resistance and potentially $1,450.
• Failure to hold $1,231 would expose $1,085 and $1,000 as key downside targets.
Indicators:
• RSI (67.6) — trending upward, approaching overbought zone.
• Bollinger Bands — expanding, confirming strong volatility and volume expansion.
• MACD — bullish, widening positive histogram.
⸻
On-Chain and Derivatives Metrics
• On-chain volume: surged from $6B → $12B, signaling renewed liquidity inflow.
• Funding rate (CoinGlass): flipped negative at –0.0227%, showing shorts paying longs — a classic sign of strong bullish dominance.
• Open Interest: rose to $2.5B, reflecting aggressive positioning by buyers despite negative funding.
Development activity, however, declined slightly, implying that the rally is liquidity-driven rather than development-led — yet still supported by market confidence.
⸻
Trading Plan
🟢 Long Setup
Entry: Above $1,370
TP1: $1,400 TP2: $1,450
SL: $1,285
🔴 Short Setup (retracement play)
Entry: Below $1,231
TP1: $1,085 TP2: $1,000
SL: $1,295
⸻
Key Levels
Support: $1,231 • $1,085 • $1,000
Resistance: $1,370 • $1,400 • $1,450
⸻
💬 BNB printed a clean cup-shaped recovery and reclaimed key support. A sustained close above $1,370 would confirm bullish continuation toward $1,400, while a break below $1,231 could trigger a correction to $1,085.
⸻
Technical Outlook
BNB remains in a clear uptrend, forming higher highs and higher lows since late September.
• Break above $1,370 could extend the move toward the psychological $1,400 resistance and potentially $1,450.
• Failure to hold $1,231 would expose $1,085 and $1,000 as key downside targets.
Indicators:
• RSI (67.6) — trending upward, approaching overbought zone.
• Bollinger Bands — expanding, confirming strong volatility and volume expansion.
• MACD — bullish, widening positive histogram.
⸻
On-Chain and Derivatives Metrics
• On-chain volume: surged from $6B → $12B, signaling renewed liquidity inflow.
• Funding rate (CoinGlass): flipped negative at –0.0227%, showing shorts paying longs — a classic sign of strong bullish dominance.
• Open Interest: rose to $2.5B, reflecting aggressive positioning by buyers despite negative funding.
Development activity, however, declined slightly, implying that the rally is liquidity-driven rather than development-led — yet still supported by market confidence.
⸻
Trading Plan
🟢 Long Setup
Entry: Above $1,370
TP1: $1,400 TP2: $1,450
SL: $1,285
🔴 Short Setup (retracement play)
Entry: Below $1,231
TP1: $1,085 TP2: $1,000
SL: $1,295
⸻
Key Levels
Support: $1,231 • $1,085 • $1,000
Resistance: $1,370 • $1,400 • $1,450
⸻
💬 BNB printed a clean cup-shaped recovery and reclaimed key support. A sustained close above $1,370 would confirm bullish continuation toward $1,400, while a break below $1,231 could trigger a correction to $1,085.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.