## BNB targets $1,064: Derivatives Market Signals Upward Momentum

On Tuesday, BNB is trading at $939.40 and is on the verge of a technical decision. The coin has been moving sideways for about two months between $818 and $931.74. A key question currently occupying many traders is: Can BNB break through the upper boundary of this consolidation zone – and if so, where could the rally end?

The answer partly lies in the derivatives markets. Signs are consolidating for a bullish bias.

## Derivatives Sentiment Turns Positive: OI and Long Positions on the Rise

The main indicators from the futures segment point to increasing buying interest:

The futures open interest (OI) in BNB has grown to $1.50 billion according to CoinGlass – up from $1.30 billion at the turn of the year. This is the highest level since early December. Rising OI values typically signal that new capital is flowing into the market. This is a classic environment for dynamic directional movements.

The long-to-short ratio shows a similar picture: the current value is 1.08 – the highest in over four weeks. This indicates significantly more positions betting on rising BNB prices than on falling. A ratio above 1.0 is considered a bullish signal.

A third critical detail: The funding rates of the derivatives have broken through the zero line and turned positive. The OI-weighted funding rate stands at 0.0058%. When longs pay shorts – as is currently the case – it suggests that the market is predominantly long positioned. Historically, such transitions from negative to positive funding rates often correlate with sharp price increases.

## Network Activity Supports the Optimistic Case

Another aspect favoring optimism lies on the blockchain itself. The 24-hour fee collection on the BNB Chain recently amounted to $1.2 million, ranking ahead of established competitors like Solana. Higher fees are an indicator of increasing transaction volumes and growing network usage – a fundamental sign of vitality.

## Technical Chart Setup: The Path to $1,064.45

From a technical chart perspective, the bullish arguments are also consolidating:

BNB is consolidating within a two-month-long horizontal channel. The upper boundary is at $931.74. A confirmed daily close above this level would validate the range breakout and pave the way for the next stage.

The moving averages currently form a supportive setup:
- The 100-day EMA at $909.04 acts as an immediate resistance
- The 50-day EMA at $894 and the 200-day EMA at $879.82 serve as support lines

Momentum itself is growing. The RSI is at 60 – above the neutral 50 mark and thus in the bullish range. The MACD shows an intact bullish crossover, further reinforcing the positive bias.

**Breakout Scenario:** If BNB breaks out above $931.74 and consolidates there, the next technical target could be $1,064.45. This level is derived from the channel height projected from the breakout point.

**Risk Scenario:** If the rally ends in a correction instead of a breakout, the 200-day EMA at $879.82 becomes the first critical support zone.

The combination of rising derivatives open interest, positive funding rates, improved long ratio, and upward momentum suggests that traders may soon end this consolidation phase – likely to the upside.