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Today, the overall cryptocurrency market is experiencing a massive price surge, with the world’s fourth-biggest cryptocurrency, Binance Coin (BNB), stealing attention from cryptocurrencies like Bitcoin and Ethereum. As of June 5, 2024, BNB has seen a massive price surge of over 9%, and its open interest has also increased by 23% in the last 24 hours. Investors’ strong confidence in BNB&nbsp; 
This price surge and open interest highlight investors’ strong confidence and interest in the BNB token. However, the major reason behind this investor attention is caused by the breakout of the bullish ascending triangle pattern.
Following this massive surge in open interest, recently, an on-chain analytics firm, Kaiko, made a post on X (previously Twitter) where they highlighted that since May 30, 2024, BNB’s open interest massively surged from $614 million to $1.1 billion. Additionally, they have also added that this massive surge in open interest comes as the BNB coin moves toward its all-time high.
Since May 30
As of now, BNB is moving near the $700 level; however, this level is also an all-time high for BNB. If we look at the performance of BNB over a longer period, in the last 7 days, it experienced a price surge of over 17%. Whereas, in the last 30 days, BNB experienced a massive jump of over 20%. Besides this impressive price surge, the 24-hour trading volume has also increased by 43%, and currently, it stands at $3.9 billion. BNB technical analysis and key levels 
According to expert technical analysis, BNB is looking bullish, but there is a high chance that the price may fall in the coming days. The reason is, that after the bullish breakout of the ascending triangle price action pattern, it surged more than 10%, and now, in order to surge more, BNB may retest its breakout level.
Besides this massive price surge in BNB, <a href="https://news.todayq.com/bitcoin-blasts-past-71k-is-fed-rate-cut-fueling-this-rocket/" rel="noopener noreferrer nofollow">top cryptocurrencies</a> including Bitcoin, Ethereum, Solana, Toncoin, and Shiba Inu also experienced an impressive price surge in the last 24 hours. According to CoinMarketCap, BTC, ETH, SOL, TON, and SHIB experienced a price surge of over 1.5%, 1%, 4%, 5%, and 7% of upside momentum.

BNB flashes pump signal, what can be the next target?

Todayq News

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