BNB breaks out from a descending wedge pattern, signaling potential bullish reversal.
BNB Smart Chain's Maxwell hard fork reduces block time to 0.75 seconds with finality achieved in 1.875 seconds.
Positive funding rates and bullish momentum indicators support further upside potential.
BNB (BNB) has broken out from a descending wedge pattern, trading above $656 at the time of writing, indicating a bullish reversal. The successful Maxwell hard fork upgrade enhances BNB Smart Chain's performance with faster block times and shorter finality, boosting investor confidence. Additionally, positive funding rates and strengthening momentum suggest potential upward movement.
BNB Chain Completes Maxwell Hard Fork Upgrade
BNB Chain announced the completion of its Maxwell hard fork on Monday. This major upgrade to BNB Smart Chain reduces block time from 1.5 seconds to 0.75 seconds, improving network responsiveness, transaction speed, and validator performance. Finality is now achieved in approximately 1.875 seconds, enhancing confirmation efficiency.
👉 Discover how BNB's upgrade impacts decentralized applications
Key observations from BscScan data reflect bullish sentiment post-upgrade:
- Increased new addresses
- Higher transaction volume
- Improved network utilization
CoinGlass data shows positive funding rates (0.0034%), indicating stronger demand from longs than shorts—a bullish signal.
BNB Price Prediction: Breaking the Descending Wedge
BNB price broke above the upper trendline of its descending wedge pattern on Saturday, rising nearly 2% by Monday. This breakout suggests a bullish bias, with prices hovering around $657 at the time of writing.
Key Levels to Watch
- Upside Target: Weekly resistance at $709.29
- Support Level: Daily support at $646.04
Technical Indicators
- RSI: 55 (above neutral, bullish momentum)
- MACD: Bullish crossover (buy signal)
FAQ Section
What is the Maxwell hard fork?
The Maxwell upgrade optimizes BNB Smart Chain by reducing block time and improving finality speed.
Why are funding rates important for BNB?
Positive funding rates indicate stronger demand from buyers, supporting price appreciation.
What’s next for BNB price?
A sustained breakout could target $709, while a pullback may test $646 support.
👉 Explore BNB trading strategies post-upgrade
Disclaimer: This content represents the author’s perspective and should not be considered financial advice. Always consult a professional before investing. CFD trading carries high risk and may result in total loss.