Bitcoin News Today: BNB Surges 6.17% on Strong Technicals and Bullish Options Activity

BNB has shown strong upward momentum, surging 6.17% to reach $843.77 in recent trading sessions [1]. Analysts and traders are closely monitoring the token as it approaches key resistance levels, including $900 and $1,000 [2]. The growing optimism is reflected in the options market, where bullish call options on BNB have been heavily traded, indicating strong conviction among market participants [3].

The rally has been supported by robust technical indicators, including a clean parabolic structure confirmed by Alpha Crypto Signal, which shows BNB breaking through a $770 resistance level and turning it into a support floor [2]. Joao Wedson, a prominent crypto analyst on X, emphasized that BNB’s market cap remains only 25% of Ethereum’s, suggesting there is still significant room for growth [1]. He also noted that historical patterns show BNB/ETH movements often align with Bitcoin’s key tops and bottoms, making the current surge potentially indicative of broader market shifts [1].

Binance Smart Chain (BSC) continues to play a critical role in BNB’s strength, with thousands of tokens built on the platform driving increased activity and capital flows into strong-layer ecosystems [2]. This infrastructure advantage, combined with BNB’s utility in transaction fees and smart contracts, has made the token an attractive long-term investment for many investors [2].

While no official price targets have been set by Binance, analysts have suggested that a $1,000 level for BNB is not out of reach, especially given the current growth velocity and trend alignment [1]. The broader crypto environment also remains supportive, with Bitcoin maintaining strength above $119,000 and Ethereum holding steady, both of which contribute to a favorable backdrop for altcoin movements [2].

Despite the positive momentum, market participants are cautious about volatility and potential pullbacks. However, the combination of strong technicals, bullish options trading, and growing institutional interest suggests the market is preparing for a higher ceiling for BNB [2].

Source:

[1] BNB Rallying Over 6%—Why Are Savvy Investors Secretly ...

https://www.barchart.com/story/news/33709082/bnb-rallying-over-6-why-are-savvy-investors-secretly-flocking-to-btc-miner-cloud-mining

[2] BNB Breaks $855, XRP Holds Strong, BlockDAG's X1 App ...

https://coindoo.com/binance-coin-price-analysis-shows-rally-toward-1000-xrp-builds-momentum-blockdag-x1-app-surpasses-2-5m-miners/

[3] This Week in Crypto Options: Bullish Bets, Big Breakouts ...

https://medium.com/@powertrade_options/this-week-in-crypto-options-bullish-bets-big-breakouts-and-whats-next-july-22-28-recap-f6908c8d9a96