- RAKBANK integrates BNB trading, marking UAE banks’ shift toward digital assets.
- BNB price forms bullish rounded bottom, holding strong above key $850 support.
- Market eyes $900 target as BNB tests $870–$885 resistance with bullish momentum.
Binance Coin (BNB) has reached a new milestone in the MENA region as RAKBANK, one of the largest and most innovative financial institutions in the United Arab Emirates, has introduced crypto trading through its mobile banking app.
The launch makes BNB one of the first eight digital assets available to customers, signaling a significant step toward mainstream cryptocurrency adoption within the region’s banking sector.
Traditional Banking Meets Digital Assets
The integration of BNB into RAKBANK’s platform highlights a major shift in how traditional banks are approaching digital currencies. This development shows a growing willingness to embrace customer demand for diversified financial products and aligns with the UAE’s broader ambition to become a global hub for digital finance. This new service was made possible after RAKBANK Partnered With Bitpanda to Offer First In-App Crypto Trading in UAE.
This shift means both retail and institutional investors now have a much easier, regulated on-ramp to Binance’s native token. The listing is expected to strengthen confidence in BNB’s long-term adoption and encourage other regional banks to follow suit.
Market Reaction and Technical Picture
BNB is trading at $866.53, recording a 1.4% gain in the last 24 hours. Price action revealed a rounded bottom intraday formation, with a dip toward the $830s followed by a sharp rebound. By session’s end, BNB surged near its daily highs, hinting at renewed bullish strength.
Key technical levels suggest cautious optimism. Support has formed between $835 and $840, with $850 acting as an additional psychological base.
As long as the token holds above $850, sentiment remains tilted upward. Resistance sits near $870, with further hurdles at the $880–$885 zone. A decisive breakout above this band could propel BNB toward the $900 level.
Meanwhile, trading volume has declined by about 24%, suggesting that the breakout requires stronger confirmation. Indicators provide a balanced view, the MACD shows a mild bullish crossover, while the RSI at 62.8 points to room for further upside before overbought conditions emerge.
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Source: https://coinedition.com/bnb-price-eyes-900-breakout-after-first-day-listing-uae-rakbank-app/