Binance Price Prediction Signals $800 Breakout as Open Interest Cools After Parabolic Rally

Binance Coin (BNB) has recorded a sharp rise in price over the past week, testing critical resistance near $780 before entering a consolidation phase.

The asset’s recent performance suggests potential for further upside, especially as buyers continue to defend higher support levels.

At the time of writing, BNB price is trading at $759.41, experiencing a mild -0.89% decline after touching a high of $781.99. Despite the pullback, price structure and volume patterns suggest bulls may be eyeing a breakout toward the $800 psychological level.

Price Trend Holds Strong Despite Open Interest Drop

The hourly chart for BNB/USDT on Open Interest shows a sustained uptrend from mid-July, with price climbing from sub-$680 levels to a peak above $780. This rally has been marked by consistently higher highs and higher lows, though recent sessions show a minor pullback, with the price now hovering near $759.75. Such consolidations are common after extended gains and can precede another leg upward if support levels hold.

Source: Open Interest

Open interest (OI) data reveals important dynamics in the derivatives market. OI increased significantly during the initial rally, peaking above $103 billion on July 20. This climb in OI confirmed that the price surge was driven by new capital entering the market. However, OI has since dropped to $99.53 billion, indicating a reduction in speculative positioning. This divergence between stable prices and falling OI may reflect traders locking in profits or reducing exposure in anticipation of increased volatility.

The reduction in OI could signal a transition from leveraged positions to spot trading, suggesting a potentially more stable and sustainable trend. If OI continues to decline while price holds steady or climbs, it would indicate that the rally is now being supported by genuine demand rather than speculative momentum.

However, a sharper decline in both price and OI would raise the risk of a deeper correction toward $740 or below.

Volume and Market Structure Support Bullish Continuation

On the 24-hour chart, BNB is trading at $768.29, showing a +2.33% increase. The price has tested resistance near $780 multiple times, each followed by short-lived pullbacks. This rising trend structure suggests healthy consolidation, with bulls attempting to maintain momentum. The most recent rebound from early session lows indicates that buyers continue to support the price above key zones.

Source: BraveNewCoin

Volume remains a key metric validating this uptrend. Over the last 24 hours, $2.73 billion in trading activity was recorded, with a current volume of $2.43 billion. These elevated volume levels highlight strong market interest and participation, especially during intraday rallies and dips. Sustained volume at these levels typically precedes continued trend strength, provided the market avoids sharp rejections at resistance zones.

With a market capitalization exceeding $112 billion and a circulating supply of 145.9 million BNB, Binance Coin ranks as the 5th largest cryptocurrency globally. The steady rebound from intraday declines around $750–$760 hints at the presence of institutional buyers or large players supporting the market at key levels. A decisive move above $780 could set the stage for BNB to test the $800 psychological level in the near term.

Momentum Indicators Confirm Underlying Strength

The daily chart for BNB/USDT continues to display strong bullish characteristics, despite the short-term pullback. The MACD (Moving Average Convergence Divergence) remains deeply positive, with the MACD line at 26.12 above the signal line at 18.38. The histogram, currently reading 7.73, reflects accelerating momentum, even with today’s red candle. As long as this structure remains intact, bullish continuation is favored.

Source: TradingView

The Chaikin Money Flow (CMF) also supports the ongoing uptrend, with a current reading of +0.15. This suggests solid capital inflow into the asset, with accumulation likely occurring during price dips. CMF has held above the neutral level since early July, reinforcing confidence in the trend’s sustainability. Unless CMF sharply reverses, the bulls appear to be in control of the medium-term outlook.

In summary, while BNB is undergoing a brief consolidation, the combination of strong momentum indicators, robust volume, and declining open interest points to a maturing trend. If resistance near $780 is breached with volume confirmation, Binance Coin could be on track to test the $800 level in the sessions ahead.