BNB Hits New All-Time High Above $1,200
BNB, formerly Binance Coin, reached a new all-time high above $1,200 on Monday. This follows a 17% rally last week. Strong network growth and positive technical signals suggest BNB could rise to $1,300 soon.
BNB Monthly Active Addresses Double to 60 Million
The number of monthly active addresses on the BNB Chain hit 60 million. This is double the number from the start of the year. The growth shows rising adoption and strong network activity.
BNB’s Total Value Locked (TVL) also increased. It rose from $7.58 billion on September 27 to $8.69 billion on Monday. This is the highest TVL since May 2022. Higher TVL means more users are using or depositing assets in BNB-based protocols.
Data from CoinGlass shows that futures Open Interest (OI) in BNB reached a new high of $2.57 billion on Monday. Rising OI means more money is entering the market, which could support the price rally.
BNB Price Outlook: Possible Targets at $1,230 and $1,300
BNB bounced back after testing support near $948 on September 26. It then rose over 24% in six days, reaching $1,192 on Friday. After a slight weekend dip, BNB set a new high above $1,200 on Monday.
If the upward trend continues, BNB could reach the 141.4% Fibonacci extension at $1,229.80. A close above this level might push the price to the 161.8% extension at $1,301.91.
Technical indicators support this bullish view. The Relative Strength Index (RSI) is at 71, showing strong momentum. The Moving Average Convergence Divergence (MACD) had a bullish crossover last week. Rising histogram bars also indicate continued upward movement.
If BNB corrects, it may find support near $1,134.93, the low from Saturday.
