Assalamualaikum guys
Binance Coin (BNB) is experiencing notable market activity in September 2024, with some analysts predicting a potential price surge of up to 40%. Currently, BNB is valued at around $551 with technical indicators suggesting that it could break out of a falling wedge pattern, which is typically a bullish signal. Additionally, the trading volume has increased significantly, alongside a rise in active users on the Binance Smart Chain. These factors contribute to positive market sentiment.
However, caution is still advised as the Relative Strength Index (RSI) shows BNB nearing overbought territory, meaning it could face resistance soon. The next critical level for BNB is $580; failure to surpass this could lead to a pullback toward $500 or $460.
In terms of market capitalization, BNB stands at over $80 billion, with a circulating supply of around 145 million coins.
