
BNB, the native token of Binance’s BNB Chain, is showing signs of a potential breakout just as institutional interest surges, fueled by VanEck’s historic ETF filing with US regulators.
If approved, this would mark the first BNB-backed exchange-traded fund in the United States. The proposed ETF will directly hold spot BNB tokens and may even participate in staking to generate yields.
Currently, BNB boasts a market capitalization of around $85.43 billion, with an annual staking yield of approximately 2.5%. The underlying BNB Chain remains a powerhouse in the DeFi space, securing nearly $6 billion in total value locked (TVL) according to DefiLlama.
The daily chart for BNB/USDT reveals a falling wedge pattern—typically a bullish reversal signal.
Price is pressing against the wedge’s upper trendline around the $605–$610 mark. A decisive breakout above this resistance would confirm the pattern and likely trigger a sharp rally.
The RSI is currently at 54.77, trending above the neutral 50 level, suggesting increasing bullish momentum without being overbought.
Moreover, the MACD has just crossed bullishly above the signal line (1.32 vs. 1.13), further supporting upward price pressure.
BNB Daily Chart. Source: TradingView
Failure to break out from the wedge could see BNB revisiting support near $540, and in the worst-case retesting the lower wedge boundary around $510.
On the other hand, a confirmed breakout above $610 could send BNB toward immediate resistance at $680.
If VanEck’s ETF garners positive regulatory feedback and institutional inflows, a sustained rally toward the $1,000 psychological level is plausible over the coming months.
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Source: SUBBD
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