The recent announcement by Binance has caused a notable 3% surge in the price of Binance Coin (BNB), sparking excitement and speculation among traders. The update aims to enhance market liquidity and improve the trading experience on the platform.
Binance has introduced adjustments to the tick size, which represents the minimum price movement of a trading pair. These changes are expected to make trading more precise and efficient, aligning with Binance’s commitment to continuously improve its platform’s functionality and user experience.
The Binance Coin (BNB) has been on a rollercoaster ride recently, with its price dipping below moving averages before rebounding sharply from the support line of a symmetrical triangle pattern. This bounce indicates strong buying interest at lower levels and underscores the resilience of BNB’s market position.
As of now, the live price of BNB is $582.70, with a 24-hour trading volume of $1.24 billion. Despite the recent fluctuations, BNB’s Open Interest has increased by 0.82%, reaching $498.7 million. The Relative Strength Index (RSI) stands at 57.23%, suggesting a bullish trend in the market.
Currently, buyers are aiming to push the price above the triangle’s resistance line. If successful, BNB/USDT could experience significant gains, potentially reaching $634 and then $692. Moreover, based on the pattern target, BNB could even surge to $726 in the near term.
