BNB Rebounds After Binance Anti-Bot Sweep – Can It Hit $1,500?

Sean Williams
BinanceUS

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  • Binance suspended 600 accounts for bot trading, aiming to protect market integrity.
  • BNB rebounded to $1,120; key resistance near $1,350 could trigger a rally.
  • Breaking above $1,360 with strong volume may lead BNB toward $1,500.

The crypto market experienced turbulence this weekend after Binance Wallet suspended 600 accounts accused of bot trading on its Alpha token discovery platform. The move briefly rattled investors, sending Binance Coin (BNB) down to $1,070, though it later recovered above $1,120. Market watchers are now focused on whether BNB can regain momentum and challenge the $1,500 mark.

Binance Moves to Protect Market Integrity

Binance Wallet confirmed the account closures on X, emphasizing that automated trading tools violated platform rules. The exchange is offering up to 50% of recovered funds to users who report fraudulent wallets, aiming to enhance community oversight. This crackdown comes in the wake of last week’s $1.2 billion liquidation event that shook the altcoin market, highlighting Binance’s commitment to fair trading practices.

Despite initial concern, the market quickly stabilized. Alongside BNB’s rebound, other large-cap cryptocurrencies, including Solana, XRP, and Tron, posted gains between 2% and 3%. The swift recovery suggests investors are regaining confidence in the platform’s proactive approach.

Technical Outlook: BNB Eyes $1,500

BNB is currently testing a key resistance zone near $1,350, after previous attempts at $1,358 and $1,375 failed. Technical indicators offer a mixed but cautiously optimistic picture. The Bollinger Bands show mid-level support around $1,167, while the upper band sits near $1,347. A decisive close above $1,360 could open the door for a rally toward $1,500.

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Momentum indicators like the MACD hint at bullish crossover potential, and Parabolic SAR dots remain below the current price, signaling short-term buying pressure. However, volatility remains elevated, and a drop below $1,060 could trigger losses toward the $950 level. Traders are watching closely, balancing optimism with caution.

Confidence vs. Caution

Binance’s anti-bot measures have temporarily stabilized the market, but BNB’s path depends on sustained buyer momentum. Breaking above $1,350 with solid volume could spark a surge toward $1,500, while failure to hold key supports may delay the rally. For now, traders remain alert, weighing technical signals against recent market shocks.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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