BNB Traders Eye $624-$628 Target as Volatility Hits Year-Low

BNB is trading near $575, stuck just below the $580 resistance zone. Volatility has dropped to one of its lowest points in over a year.

Crypto analyst Umair Orakzai believes BNB may finally break out of its descending channel, targeting a price of $631 on a breakout.

SilentSwap, a platform offering private and non-custodial cross-chain swaps, has launched on BNB Chain. This addition could draw in new users to the network's DeFi activity.

According to positioning data, most traders are leaning bullish, with retail traders sitting at 74% long and larger 'smart money' accounts close to 76% long.