Binance Coin (BNB) Consolidates at $867, Symmetrical Triangle Points to $962 and $1059 Breakout Targets

Binance Coin (BNB) is trading at $867, forming a symmetrical triangle pattern, with breakout targets at $962, $1008, and $1059. Traders are watching support between $857 and $880, as this area defines the short-term path for BNB. The chart indicates growing pressure that could soon resolve in a sharp directional move. Market participants believe the setup indicates rising accumulation as buyers prepare for a decisive move.

Binance Coin (BNB) is currently trading at $867, forming a symmetrical triangle pattern with breakout targets at $962, $1008, and $1059. Traders are closely watching support levels between $857 and $880, as this area defines the short-term path for BNB. The chart indicates growing pressure that could soon resolve in a sharp directional move, with market participants believing the setup indicates rising accumulation as buyers prepare for a decisive move.

According to recent technical data, BNB's futures open interest remains stable around $196 million, signaling a low-risk accumulation phase [1]. The stable open interest, coinciding with sideways price action, indicates that traders are maintaining their positions rather than aggressively increasing leverage. This suggests a cautious but potentially bullish setup. Additionally, the 24-hour price chart reveals intraday volatility, with the asset dipping to lows near $854 before recovering above $862. This behavior reflects buyers stepping in near established support levels, reinforcing market depth and resilience.

The network activity of Binance Coin has also been surging, with the number of active addresses on the BNB network more than doubling since April 2025 [2]. Today, daily active addresses range between 2 million and 2.5 million, with some spontaneous spikes exceeding 3 million. This robust activity places Binance ahead of other major blockchains when measured by network usage. The growing demand for the BNB chain, coupled with its ability to maintain price stability near record highs, points to strong fundamentals.

BNB's structure remains bullish, but momentum has cooled after the sharp rally. Traders are closely watching whether consolidation leads to another leg higher, especially as network fundamentals and activity remain strong. Holding above $850 keeps the bullish outlook intact, while failure could invite deeper corrections. If BNB manages to break above the $900 resistance level, rising open interest would likely validate a stronger commitment among traders and potentially spark accelerated upward momentum.

References:
[1] https://bravenewcoin.com/insights/binance-coin-holds-firm-at-859-as-traders-eye-900-breakout-signal
[2] https://www.mitrade.com/insights/news/live-news/article-3-1085399-20250901