The wonderful 24-hour BNB rally shows the growing strength of the Binance ecosystem amid greater optimism in the crypto market.
The upward momentum of the token coincides with the Bitcoin approach to new all-time highs and increased activity throughout the BNB chain, which recently recorded more than 8 million daily transactions and 2 million active purse addresses.
Technical indicators remain bullish for BNB, with strong support established at $ 682 and many tests at this level showing the consumer’s prolonged interests despite minor resistance to around $ 684, according to the technical review model of technical research of CoinDesk Research.
Technical assessments
- The price action formed a clear -ups with significant volume spikes at 15:00 and 16:00 hours on May 21 (183k and 186K respectively).
- Strongly support the volume established around the $ 663- $ 670 zone.
- The owner encounters a fight near $ 689.35 during the period of 03:00 hours on May 22 before a minor pullback.
- The support is maintained at $ 679.08, suggesting a continuous bullish momentum.
- It is noteworthy that last time there is a significant price progress between 07: 35-07: 37, climbing from $ 680.85 to $ 683.78 (0.43% increase).
- Multiple trials of $ 682.00 level show consumer interest, with a resistance to around $ 683.90.
- The volume that sank during 07:37 with more than 7,190 units exchanged, proving the strength of the upward motion.
- Last minutes showed integration -including around $ 682.28, suggesting a temporary balance after the Pabagu -Change of Trading.
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