Will the bullish sentiment help altcoins

Bijiewang reported:
BNB faces a key resistance at $617, and bullish sentiment suggests a potential breakthrough.
Increasing public interest and stable social dominance indicate growing confidence, but volatility is imminent.
Binance Coin [BNB]
With the continued enhancement of market bullish sentiment, the stock is receiving widespread attention. As of press time, BNB’s trading price is $609.51, up 1.94% in the past 24 hours.
Both the crowd and savvy funding indicators show optimism. Can BNB break through the key resistance and continue its current upward trend?
Can BNB clear the key resistance?
The price trend of BNB shows encouraging strong signs. As of press time, the token trading price exceeded $600, facing a key resistance zone at $617.
This level has proven to be a difficult barrier in the past, but clearing it may lay the foundation for pushing the next major target of $715.7. Therefore, breaking this resistance is crucial for further upward momentum.
In addition, the stochastic RSI of the chart is in the overbought zone, confirming the strong buying pressure behind BNB’s recent rise.
However, overbought RSI often precedes short-term corrections, indicating that BNB may experience a brief adjustment before resuming its rebound.
Traders should pay attention to the support level at $599 in case this retracement becomes a reality.
BNB: Is interest increasing?
Although the coin’s social dominance has fluctuated in the past few months, as of press time, its market share is 0.757%, reflecting sustained market attention.
The consistency of this social activity is crucial because the increase in social dominance is usually related to the growth of investor interest.
If this trend continues, it may prompt more market participants to turn to BNB, further supporting its price. However, it is worth noting that relying solely on social dominance is not enough to guarantee sustained price growth.
A sign of confidence?
As of press time, the open interest of the futures market has surged by 5.94%, totaling $562.01 million.
The increase in open interest reflects the growth of trader interest and indicates an increasing bet on the future price trend of Binance Coin.
The increase in open interest usually leads to increased volatility, which may provide more trading opportunities for Binance Coin in the short term.
However, higher open interest also means a larger market risk exposure, as large traders may close their positions, resulting in significant price fluctuations. As open interest increases, traders should remain vigilant.
Read more:
Price prediction for Binance Coin [BNB]
 2024-2025
Will BNB maintain its bullish momentum?
The price increase of Binance Coin, bullish sentiment, and the increase in open interest all indicate potential upside. However, overcoming the key resistance at $617 remains crucial.
Although Binance Coin seems ready for further upward movement, there may still be a short-term correction. If BNB breaks through this resistance, it may rebound to $715, laying the foundation for more bullish action.