The BNB setup you can’t ignore! – DEX volume surge and a looming bear trap

The BNB Chain has seen remarkable growth in key metrics, with DEX volume increasing by 79.1% due to strategic enhancements in the ecosystem. Network revenue is up by 58.1%, and daily active addresses have risen by 26.4%, indicating robust fundamental activity.

Despite these impressive fundamentals, BNB’s price action is warning of a classic bear trap, as it struggles to break past the $600 resistance. With funding rates negative, the market is lean towards short positions, raising the likelihood of a potential short squeeze if bullish momentum returns.