BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock Remains
BNB price rebounded following CZ's pardon, supported by exchange outflows, but large whale wallets are still reducing their holdings.Summary
The BNB price has increased by 4.4% in 24 hours, distinguishing itself among top-10 coins with positive 30-day gains, largely due to renewed trader sentiment following the pardon of former Binance CEO Changpeng "CZ" Zhao. This rebound is supported by significant BNB outflows from exchanges since October 20, indicating accumulation by holders planning to hold rather than sell. However, a roadblock remains as wallets holding 10,000–100,000 BNB, including large whales, have continued to decrease their supply share. Technically, BNB bounced off the lower boundary of a broadening ascending wedge, confirming short-term support at $1,105, and a hidden bullish divergence on the RSI suggests a potential continuation of the prior uptrend. A close above the $1,242 resistance level could target $1,302 and the all-time high of $1,379.
(Source：BeInCrypto)