BNB Bulls Eye $960 Breakout Amid Reduced Derivatives Activity

Binance Coin (BNB) is close to breaking out of its current trend as bulls eye $960. According to analysts, if BNB can maintain above the $537 support level on higher timeframes, a bearish setup will remain intact.

The price has moved above a descending trendline and is now probing the $745 hurdle. A bullish close above $745 on the weekly timeframe may see $960 become the initial upside target, with $1,376 coming next where BNB can test its previous all-time high.

However, the derivatives metrics show reduced involvement despite the current rise in BNB's price, and the futures volume has fallen by 45.63% to $944.82 million.