Bybit Supports BNB Smart Chain v1.7.2 Upgrade

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 day ago

BNB-0.836%

NIBI-0.19%

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Upgrade Support Announcement: Bybit has announced its support for the BNB Smart Chain v1.7.2 network upgrade, indicating the exchange's commitment to maintaining compatibility with the latest blockchain version, thereby ensuring uninterrupted on-chain asset operations for users.
User Precautions: Users should monitor official Bybit channels for any service changes during the upgrade window; although no service interruptions have been confirmed in connection with this upgrade, users must remain vigilant to prevent potential transaction delays.
Infrastructure Update Importance: Exchange support for chain upgrades necessitates updating node infrastructure to ensure correct transaction processing on the upgraded network, and failure to upgrade in time may lead to deposit or withdrawal delays or temporary asset inaccessibility.
Historical Support Record: Bybit has consistently issued advance support announcements for network upgrades across multiple chains, and its support for the BNB Smart Chain aligns with its previous notice for the Nibiru v2.12.0 upgrade, demonstrating its readiness for high-traffic chains.

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Technical Analysis for BNB

Technical Sentiment Analysis for BNB (BNB). As of , BNB (BNB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BNB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BNB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

BNB (BNB) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	572.797	593.898	611.987	633.088	651.177	672.278	690.367
Fibonacci	593.898	608.869	618.118	633.088	648.059	657.308	672.278

About BNB

Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. BNB is an integral part of the successful functioning of many of the Binance sub-projects.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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