BNB has successfully liquidated over $54.3K in short positions as the price surged past the $942.70 mark on Binance Futures. This aggressive move highlights a significant "short squeeze," where the forced closure of bearish bets is providing additional fuel for the current uptrend. This price action serves as a definitive signal of bullish strength and sustained buying demand.
Technical Price Levels
The market structure currently shows a clear hierarchy of price floors and ceilings that traders should monitor closely:
Primary Resistance: The immediate challenge lies between $960 and $980. A sustained close above this range would signal a shift into a higher-velocity expansion phase.
Immediate Support: Buying interest remains concentrated in the $910 – $895 zone. This area is critical for maintaining the current upward trajectory.
Major Structural Support: A deeper safety net is established at $870, representing a key level for long-term trend health.
Strategic Targets and Risk Management
The overall bias remains strongly bullish as long as BNB maintains its position above the primary support levels.
Upside Targets: * $960 (Local Resistance)
$980 (Consolidation Peak)
$1,020 (Key Breakout Zone)
Risk Mitigation: To protect capital against sudden volatility, a stop-loss is recommended below $895. A break beneath this level would invalidate the immediate bullish setup.
