BNB breakout shows a textbook cup-and-handle, supported by rising spot volumes and 64% long positioning in derivatives, indicating bullish conviction that could sustain a move toward $1,300 if demand holds and pullbacks remain shallow.
BNB confirmed a cup-and-handle breakout above $793, creating support at $761–$793.
Spot volume clusters expanded, signaling increased buy-side participation after the breakout.
Derivatives data shows 64.26% of accounts long, producing a Long/Short Ratio of 1.80 and higher liquidation risk on deep pullbacks.
Meta description: BNB breakout signals rising spot demand and 64% long derivatives positioning; read the technical and on-chain outlook for a potential run to $1,300.
What is driving the current BNB breakout?
The BNB breakout is driven by a weekly cup-and-handle breakout after clearing the $793 resistance, coupled with expanding spot volume clusters and bullish derivatives positioning. These combined technical and on-chain signals suggest renewed momentum toward higher targets if spot demand persists.
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BNB’s weekly chart printed a clear cup-and-handle pattern that resolved with a close above $793, converting that level into support. Support zones now sit between $761 and $793, which traders are watching for pullback validation. The Stochastic RSI near 74.8 warns of shallow retracements, but the structure favors continuation if buyers defend support.
Yes. Spot volume clusters expanded following the breakout, indicating increased buy-side participation. Larger spot volume clusters historically align with sustained rallies rather than short-lived spikes, lending on-chain support to the technical breakout.
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Source: https://en.coinotag.com/bnb-cup-and-handle-breakout-could-propel-price-toward-1300-as-spot-demand-and-long-positions-rise/