The Binance Coin: How BNB rose 26% within a week

• BNB has been printing green long candlesticks for the entire week. 
• BNB, at the current market levels, is both resilient and attractive. It’s a risky but rewarding opportunity.

Last week, Binance Coin [BNB] was at $500 — now it’s up 26%, a textbook case of dip buying.

The volume indicators suggest that the rally is still going strong, but market volatility may be putting a damper on it. BNB can defy market expectations to regain its $100 billion value.

Risk high, reward higher

BNB was at $640 when we went to press. The stock has seen a steady rise, with long, green candlesticks. It’s evident that the bulls were quietly accumulating with rising volumes.

TradingView: BNB/USDT

The MACD is flashing a bullish cross-over, which could indicate a break out.

This trend was reinforced by the BNB/BTC pairing, which showed that investors were betting on Binance Coin to act as a hedge. BNB’s resilience makes it an appealing buy.

However, with the crypto market cap down 2.64%, is this divergence a ‘high-risk, high-reward’ play that demands extreme caution?

BNB is a gamble with high stakes

Binance Coin has been bucking the bearish market trend and is surging forward while the other top coins struggle in the negative. Can Binance take the $100 billion market cap back from Ethereum? Solana?

Just a 7% increase from the $650 average price would be enough to seal the deal. Futures traders seem to think it’s possible – Open Interest (OI) was up Over $500K worth of shorts was wiped off by just 1.05%. 

Longs dominate Binance’s chart. BNB has seen a breakout, and traders are jumping on board to profit from the price swings.

Coinglass

Binance Coin, with its solid fundamentals and new speculative capital seems poised for a surge of 7% to recover its $100 billion valuation.

Bulls need to be firm in this high-stakes situation.