CandleFocus CZ Out of Jail, BNB Set for Mega Breakout: Eyes on $700
2024-09-27
Author: Content Editor
Crypto whales have staked over $154 million worth of BNB tokens on Binance Smart Chain, indicating bullish market sentiment. BNB, the fourth-largest cryptocurrency, is now poised for an upside rally following the release of founder Changpeng Zhao from jail. Technical analysis suggests that if BNB breaches the $620 resistance level and closes a daily candle above $625, it could potentially soar to $700. On-chain metrics also support a bullish sentiment, with a strong Long/Short ratio and increasing open interest.
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