- BNB Price is now above the resistance of past $792 and it is trading almost at its highest value of $885.
- The amount of derivatives open interest on BNB reached a new record high of 1.5B, which exhibits increasing trader attention.
- Positive funding rates are an indication that traders anticipate a positive trend in BNB.
BNB price is trading close to a key breakout zone, with technical patterns and derivatives data showing bullish momentum. Having gained tremendously over the last several months, BNB PRICE is currently trading at around $850 and is potentially aiming at consolidating around $1000.
BNB Price Technical Structure Supports a Breakout
Binance Coin has been in a solid bull market since the beginning of 2025, when the price was at $500 in February and is currently at approximately $846 in August. The currency is still carrying out consolidation, but it is remaining near its all-time high of $885. The coin also trades above its 50-day Weighted Moving Average which is an indicator commonly used to show market direction.
A cup-and-handle has developed on the daily chart. A continuation pattern is where the price first forms a rounded bottom, followed by a brief pullback and subsequent rise. The $792 resistance zone capped the price of BNB PRICE in late 2024, but the asset has moved beyond these points. A break above this level can indicate further upside.
Source: TradingView
The breakout negates a previous double-top pattern at the price of about $860 that could have been an indication of a downtrend. With that taken off of the table, technical traders will now be looking at $1,000 as the next logical stop. In case the momentum persists, it may hit the price of up to $1,100 depending on the depth of the pattern.
But, once the price goes below $792 the bullish set up will become weak. Investors are paying close attention to that level as it has emerged as a short term support level.
BNB Price Derivatives Market Shows Strong Demand
The derivatives data indicates the presence of high activity around BNB price The open interest in-Futures has been on an increasing trend with the current position reaching a historical high of 1.5 billion. This is a significant rise over the figures recorded earlier in the year, when open interest stood at less than half a billion dollars.
The presence of high OI normally indicates that a greater number of traders are entering into the market. It can also indicate stronger conviction in the direction of price. Meanwhile, the funding rate on BNB has remained positive over an extended period of time. A positive funding rate implies that long positions are paying the short positions and this is normally an indicator that more traders are anticipating the price to trend upwards.
Source: CoinGlass
The wider Binance Smart Chain (BSC) system is also grooving. The aggregation of value chained into BSC projects is increasing and stablecoin usage is also growing. Such protocols as PancakeSwap and THENA still join lots of transactions every day, bringing additional utility to the BNB token.
The near-term movement of BNB price now hinges on the market mood and technical support levels as well as market derivatives actions.Â
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