The market is showing a strong "risk-on" rotation today, and $BNB is leading the charge among the majors. After testing support near the $870-880 zone earlier this week, BNB has successfully reclaimed the $910 benchmark.
Why is BNB showing strength today?
The Maxwell Upgrade Effect: We are seeing the fundamental impact of the Maxwell Upgrade, which has significantly improved block times and scalability for the BNB Chain ecosystem.
Technical Bounce: On the daily chart, the RSI recently dipped into the "oversold" 30-35 range, suggesting this bounce was technically overdue.
Ecosystem Activity: With the rise in DeFi and GameFi volumes on the chain, demand for BNB for gas fees is steadily increasing.
Key Levels to Watch:
Resistance: $950 is the immediate hurdle. A daily close above this could open the door for a retest of the $1,000 psychological level.
Support: $890 is now our local "floor." If we dip below, $872 (200-day EMA) remains the primary accumulation zone.
Are you holding your $BNB for the long term, or are you taking profits at $920? Let me know your strategy in the comments! 👇
#BNB #BinanceSquare #CryptoAnalysis #Write2Earn #WriteToEarnUpgrade