Interest in Binance Coin (BNB) is increasing as former Binance CEO Changpeng Zhao's release from jail approaches. Currently priced at $520, indicators suggest that BNB's price could continue to rise. The rise in Open Interest (OI) to $342 million indicates that market participants are increasing their positions in BNB. Analysts believe that CZ's return from jail could push BNB's price above $600 again. Currently, BNB is bouncing back from a support level of $487 and could surpass the resistance at $518. If the price surpasses the 20-day Exponential Moving Average (EMA) and coincides with CZ's release, the price could reach $724. However, resistance at $575 and ongoing legal issues for Binance and CZ could impact BNB's performance.
- Content Editor ( beincrypto.com )
- 2024-09-10
BNB Price Eyes $600 as CZ Jail Release Sparks Market Interest