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BNB set to surge to $900 IF two key breakthroughs occur

3min Read

Recent price action suggests that BNB is on track to rally toward a new all-time high. 

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  • Analyst predicted that if BNB can break through the current falling wedge and a significant resistance, it could reach a new peak.
  • On-chain metrics, however, signal that these critical breaches necessary for a new ATH may be delayed.

While Binance Coin’s [BNB] price movement has recently slowed, showing a 1.34% decrease in price and a 10.78% decrease in trading volume, analysts interpret this lull as a common precursor to a forthcoming rally.

Additionally, AMBCrypto has discovered insights that could potentially stall BNB’s progress further.

BNB set for $900 rally, pending two key conditions

Crypto analyst Carl Runefelt anticipates that BNB could reach a new all-time high of $900, contingent on two major conditions as indicated by his analysis: overcoming the falling wedge and breaching a historic resistance line.

Of these conditions, one is reportedly close to being met. Runefelt expressed optimism, stating, It’s only a matter of time before we break out of this 1W Falling Wedge!

Source: X

Once the historic resistance formed at previous all-time highs in 2021 and 2024 is surpassed, likely through substantial buying pressure, BNB faces no further obstacles trading to $900.

However, AMBCrypto has noted that the breakout from the wedge pattern and the challenge of the major resistance might experience slight delays.

Retail trader activity impacts BNB

Some retail traders’ efforts to drive a bullish trend in BNB have diminished and countered, as evidenced by notable declines in both Open Interest (OI) and market liquidations unfavorable to long positions.

Open Interest, representing the total number of unsettled derivative contracts on BNB, has seen a downturn. Currently, futures and options OI over the past 24 hours are down by 4.90% and 54.68%, respectively.

Source: Coinglass

A continuous negative trend in OI suggests traders are closing positions, which could lead to decreased market liquidity and a potential weakening of current price trends.

Additionally, BNB liquidations have not been favorable for long traders. In the past 24 hours, $340 thousand has been liquidated from the market, with long positions accounting for $272.21 thousand of that total.

This pattern indicates strong selling pressure and negative market sentiment. If sustained, it could further depress BNB prices.

Falling TVL on BSC Network, yet optimism persists

The total value locked (TVL) on the Binance Smart Chain (BSC) network, where BNB is native, has decreased from $4.616 billion on August 24th to $4.533 billion at press time.

TVL measures the total assets deposited in decentralized finance (DeFi) protocols and reflects the overall health and adoption of DeFi projects. 

A decline in TVL, as observed with BNB, indicates that more assets are being withdrawn from DeFi protocols, suggesting an increase in selling pressure and concurrent price drops.

Source: DefilLama


Realistic or not, here BNB’s market cap in BTC’s terms


Despite the short-term challenges, a broader view reveals a positive trend; since August 5th, the TVL has steadily risen, adding nearly $1 billion.

This upward trajectory provides a glimmer of hope and suggests that the BNB price may be set for a rally, potentially overcoming major obstacles in the near term.

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Olayiwola Dolapo is a Crypto Research Analyst at AMBCrypto, driven by a mission to make the digital asset space more transparent and understandable for all. His journey was catalyzed by an early experience in the market that underscored the importance of deep, foundational knowledge—a principle that now guides his professional work. His expertise is grounded in a Bachelor's degree in Chemistry. However, he also has a strong interest in economics which provides him with a strong framework for analyzing market behavior and the financial principles of blockchain technology. He combines this economic perspective with a specialization in technical analysis and on-chain data interpretation. This dual approach allows him to dissect price trends while also evaluating the underlying health and activity of a network. At AMBCrypto, Dolapo is dedicated to producing data-driven, educational content. He meticulously uses on-chain tools and technical charting to identify and explain emerging opportunities, helping readers move beyond hype and make decisions based on robust analysis. His work is a testament to his commitment to helping others navigate the complexities of the crypto market with clarity and confidence.
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