Binance Coin $707.02 (BNB) made an important output by leaving Solana (left) behind in terms of market value. This output was announced in the United States, although the Consumer Price Index (CPI) data has shown that inflation has increased for the last three months. In the crypto currency market, the rise in the price of BNB Coin while this data falls after this data attracts the attention of investors to Altcoin. Recovery and recent developments in the chain data Bnb priceHe points out that it can rise up to $ 700.
BNB rises despite the negative funding rate
Bnbchallenging the decline throughout the market, 6.1 percent in the last 24 hours, 17.7 percent in the last week. Bitcoin (BTC) 
$96,344.93 and Ethereum (ETH) 
$2,685.18 Other large crypto currencies such as losing close to 2 percent, while the rise of the BNB drew attention in the market.
The rise in Altcoin came in the US, although the CPI data announced in the United States, despite the fact that annual inflation has exceeded expectations with 3 percent. This has been the largest year -old increase since June. In addition, an increase of 0.5 percent on a monthly basis has been reached the highest level of the last two years.
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Although the funding rate was negative, the rise of the BNB continued. According to Coings data, Altcoin has a total of $ 436,000 in the last hour. 435 thousand dollars of this came from Short (short) positions. Moreover BNB Smart Chain (BSC) has also experienced a significant increase in in -chain activities. In the last week, BSC’s trading fees increased by 115 percent, while these rates fell in large blockchain networks such as Solana and Ethereum.
Can the BNB price exceed $ 700?
BNB rose to $ 670, exceeding the critical resistance level of $ 650. The Altcoin, which is currently traded for $ 669, wants to maintain its rise trend. According to technical analysis data BNB/USDT The transaction parity aims to reach $ 692. However, it may encounter strong resistance at this level and the possibility of withdrawing back to $ 650 is on the table.
Although the relative power index (RSI) is 75 and close to the excessive purchase zone, the demand in the BNB seems strong. If the price exceeds $ 692, a rapid rise of up to $ 745 may be experienced. On the other hand, if the $ 692 cannot be exceeded, a withdrawal may be experienced towards $ 650.
In addition, the Long/Short ratio is 0.7203 and 58 percent of investors BNB Coinpredicts that the price of the price will decrease. On the other hand, a 42 percent cut is waiting for the price to rise.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
