Shorts Stack Up Toward $970 Level

 Key Insights:

• BNB trades near $954 with strong uptrend; shorts cluster around $970 as resistance builds.
• RSI at 70.92 signals overbought conditions, while Bollinger Bands widen, showing volatility and continued bullish momentum.
• Reports of Binance nearing DOJ settlement boost sentiment, with traders now targeting the $1,000 milestone.

Binance Coin (BNB) was trading at $954.16 with a daily turnover of about $2.19 billion. The token has advanced 3% in the past 24 hours and is up 8% over the past week. The steady rise has carried BNB into new territory, extending its rally above the previous all-time high.

The price chart shows a firm uptrend that began in late June. A series of higher highs and higher lows confirm sustained strength, with momentum continuing to push the market upward.

Resistance Levels and Short Positioning

Heatmap data indicates a large block of short positions building between $950 and $970. Traders are treating this area as a ceiling, with leveraged shorts concentrated up to the $970 mark.

Support remains layered below at $920 and $900, where past retracements have attracted demand.

 One market watcher noted,

 “High leverage short positions on $BNB exist until $970,”

In addition, underlining the importance of this level as a near-term battleground.

Technical Indicators and Momentum

BNB is trading close to the upper edge of the Bollinger Bands, a sign of strong momentum. The widening of the bands points to increased volatility as price approaches resistance.

The Relative Strength Index (RSI) is reading 70.92, which places it in overbought territory. This shows that buyers remain in control, though it also raises the chance of a pause or brief pullback.

Fundamental Context and Market Sentiment

Reports suggest that Binance may be nearing a settlement with the U.S. Department of Justice. Traders view this as a potential clearing of long-standing uncertainty, which has added fuel to the latest surge.

The breakout has shifted attention to the $1,000 milestone as the next target. Some projections even point higher, with one trader saying, “The road to $1,000 BNB looks closer than ever.”

With shorts stacked at $970 and firm support zones below, BNB is at a critical point. The next move will depend on whether bulls can break through resistance or if bears manage to defend the ceiling.