# BNB Price Could Retest All-Time High in September Due to These Reasons

Binance Coin (BNB) may retest its all-time high in September due to several key factors. Let's dive into the details and explore what this means for the crypto market and investors.

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## BNB's Potential Price Surge

In June, Binance Coin (BNB) shocked the crypto market by becoming the first of the top ten altcoins to reach a new all-time high (ATH). Interestingly, this happened nearly three months after Changpeng Zhao, popularly known as CZ, was sentenced to four months in prison.

### CZ’s Homecoming Signals Strength for Binance and BNB

According to the United States Federal Bureau of Prisons (BOP), CZ has been moved from the prison at the Federal Correctional Institution Lompoc in central California. Recent data shows that Zhao is now at the Residential Reentry Management (RRM) Long Beach, a halfway house in San Pedro in the same city. This transfer appears to be related to his release scheduled for September 29.

However, there have been rumors on X that the exchange’s co-founder might be let out early. Regardless of the release date, it seems that his return could spark a wave of buying pressure for BNB.

### Rising DEX Volume and Bullish Indicators

For instance, according to Artemis data, BNB’s DEX trading volume has surpassed $1 billion for the first time since the August 5 market crash. This volume is the amount of cryptocurrency traded outside of centralized platforms like Binance.

An increase in this value suggests rising demand and foreshadows a price increase for the coin involved. BNB currently trades at $578.72, a 19.22% drawdown from its ATH of $720.67.

If the DEX volume continues to increase toward CZ’s anticipated release, BNB’s price might follow. Should this happen, the coin value might surpass its current ATH. In addition, Binance Coin’s Funding Rate is negative, indicating that traders expect the price to fall in the short term.

However, negative funding and an increase in price are rarely a good combination for those expecting a price decrease. Hence, if shorts (sellers) remain aggressive and the price increases, BNB’s price might experience another upswing.

## BNB Price Prediction: It’s About Time to Return Higher than $700

Despite BNB’s price fluctuations, the 4-hour chart indicates it is moving within an ascending channel. This pattern suggests that the bullish sentiment remains intact. If the pattern holds, BNB could potentially retest the $700 level before the end of September.

### 4-Hour Chart Analysis

On the daily chart, the Awesome Oscillator (AO) is positive, confirming that the momentum around the coin is bullish. This indicator compares recent price movements to historical performance.

When the AO is negative, it means that the momentum around the cryptocurrency is bearish. Thus, in Binance Coin’s case, the rising momentum could help drive the price higher.

As seen below, BNB’s price could rally to $648.80 within the next few weeks. If buying pressure increases, it could also jump to $724.67.

### Potential Risks and Downsides

However, if Binance’s former CEO CZ is released from prison and the US SEC pursues another lawsuit against him and Binance, BNB’s price might decline. In such a scenario, the coin’s value could drop to $526 or even $472.

## Conclusion

The potential return of Changpeng Zhao (CZ) and the rising DEX volume suggest that BNB could retest its all-time high in September. Bullish indicators and the ascending channel pattern on the 4-hour chart further support this outlook. However, potential legal risks, such as a lawsuit from the US SEC, could push BNB’s price down.

By staying informed, diversifying your portfolio, and making informed investment decisions, you can navigate the dynamic and exciting world of crypto. The future of BNB and the broader crypto market is filled with potential, and these recent developments underscore the importance of staying informed and making informed investment decisions.

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Disclaimer: This article is for entertainment and educational purposes only. It should not be considered financial advice. Always do your own research and consult with a financial advisor before making any investment decisions.

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