Binance Coin Prints Weekly Candle—Will This Trigger a New High?

• BNB prints a key weekly candle, mirroring August 5, signaling potential breakout.
• Whales accumulate $117.84M BNB, while network reaches 500M unique addresses.
• Technical indicators show bullish momentum, with targets reaching up to $793.86.

Binance Coin—BNB, has formed a weekly candle almost identical to the August 5 pattern. Traders are now watching closely, expecting a potential breakout. The BNB blockchain has also reached a major milestone, crossing 500 million unique addresses. Strong market signals and increasing adoption suggest growing confidence. Large investors are accumulating, while trading data points to bullish momentum. With these factors in play, BNB may be gearing up for a significant move.

The BNB ecosystem is expanding rapidly, adding millions of new addresses in recent months. BscScan confirms the blockchain has now recorded 500 million unique addresses, marking a 25% increase in just three months. This surge reflects strong adoption and rising network activity. Traders have been accumulating large amounts of BNB. Since January 27, purchases have totaled $117.84 million across major exchanges.

Exchange netflows have turned negative, signaling more assets moving into private wallets. Fewer tokens available for sale often create upward price pressure. Derivatives markets also show strong bullish sentiment. Binance’s top traders hold a long-to-short ratio of 2.369, meaning long positions outnumber short positions more than two to one. This confidence from experienced traders suggests expectations of further gains.

Despite a 4.53% decline over the past day, BNB remains steady near $605.90. Technical indicators highlight potential for a move higher, with targets reaching $793.86. Large buy orders below current levels provide additional support, preventing sharp declines.

The Parabolic SAR indicator shows a bullish pattern, with dots forming below the price line. This setup often signals a shift toward upward momentum. Moving averages and price action confirm growing buying pressure. Liquidity conditions are improving, with tighter bid-ask spreads helping stabilize price movement.

Order books reveal strong demand, suggesting large investors are accumulating. Rising transaction volumes reinforce positive market sentiment. Beyond trading, the BNB blockchain remains highly active. Decentralized applications continue driving transactions, reflecting real-world network usage.

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