Binance Coin (BNB) is experiencing an increase in investor confidence attributed to the imminent release of <a href="https://optimisus.com/news/crypto-news/cryptoquant-ceo-ki-young-ju-defends-binance-founder-changpeng-zhao/" rel="noopener noreferrer nofollow">co-founder and former CEO Changpeng Zhao (CZ)</a>.With only six days remaining in CZ&#39;s four-month incarceration, BNB is poised to surpass its resistance levels, perhaps elevating the price beyond the $600 threshold. The coin has been oscillating within a horizontal band since July, encountering resistance at $597.80 and support at $464.80.Technical indicators indicate a possible breakout, with the Directional Movement Index (DMI) demonstrating significant accumulation and the Balance of Power (BoP) indicator corroborating the positive trend for BNB.Should <a href="https://optimisus.com/news/crypto-news/binance-denies-any-ownership-or-operational-control-over-wazirx-during-hack/" rel="noopener noreferrer nofollow">BNB</a> surpass the existing resistance level, its subsequent objective will exceed $600, representing a notable milestone since its previous peak in July.Analysts forecast that the forthcoming price target may ascend to $645.80. Nonetheless, should the bullish momentum diminish, BNB may revert to its horizontal trading channel, potentially declining towards the support level of $464.80.

Binance Coin (BNB) nears a potential breakout past $600

Optimisus

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