Open Interest for Binance Coin (BNB) Rises While the Funding Rate Falls

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Trading in BNB increased as more people looked into it for potential gains. Following a 13.90% seven-day price increase, Binance Coin [BNB] has attracted some undivided attention from traders as open interest increased.

However, all exchanges saw a decrease in the funding rate as BNB ran the risk of a price reversal away from the weekly greens registered. Understanding market sentiment and potential price trends are made easier with the funding rate. With less money invested and the market’s current setup, BNB could probably follow the bearish trends.

Key Binance Coin Levels to Watch – November 27

The price made a significant rally on the 22nd of November to the current price level. However, the rally could be considered a pullback.

Open Interest for Binance Coin (BNB) Rises While the Funding Rate Falls

Market order flow is bearish due to the break or shift that took place recently. The price rallied to a breaker while not showing a willingness to break through it.

On the Relative Strength Index, the current price is hovering around the overbought region. In addition, when the price reaches the breaker the probability of shorting increases. The price is anticipated to fall to $240.00.

BNB Key Levels

Resistance levels: $310.00 $330.00 $350.0
Support levels: $240.0 $220.0 $205.0

Total Market Capitalization: $62.57B
Binance Coin Market Capitalization: $49.99B
Binance Coin Volume: $787.61M
Market rank: 4

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.