๐ BNB Nears $1,000 Amid Strong On-Chain Conviction
๐ Price Surge: BNB has climbed 14% this month, now trading near $958, and is eyeing a four-digit target around $1,071โ$1,080.
๐ก Profit-Taking Risk:
NUPL (Net Unrealized Profit/Loss) is at 0.44, a 3-month high, showing many holders are in profit and may be tempted to sell.
๐ฆ Exchange Supply Falling:
BNB on exchanges dropped 50% (4.35M โก๏ธ 2.79M) in just 4 daysโ๐ a bullish sign as coins move to long-term wallets.
๐ซก HODLers Accumulating:
6โ12 month holders grew from 62.8% โก๏ธ 67.1%, and
3โ6 month holders nearly doubled (1.9% โก๏ธ 3.6%).
โก๏ธ These typically profit-taking cohorts are instead buying more, tightening supply.
๐ Technical Outlook:
Breakout from an ascending channel confirmed โ
Resistance: $975 & $1,015
Target Zone: $1,071โ$1,080 ๐ฏ
Support: $950 & $935 โ ๏ธ
Breakdown risk: Close below $910 would weaken the bullish case.
๐ Takeaway: Despite high profit-taking risk, shrinking exchange supply and holder accumulation show strong market conviction, keeping BNB on track toward four-digit prices.
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