BNB Soars to New Yearly High: Analyst Predicts $1000 Breakout

Binance Coin (BNB), the native token of the world’s largest cryptocurrency exchange, has surged 7% within the past 24 hours. This upward movement places BNB ahead of the top five cryptocurrencies in terms of performance, surpassing its previous yearly high of $645 from March and reaching $673 as of Tuesday.

BNB Primed For Bullish Surge To $1,000?

Renowned market expert "Sheldon The Sniper" believes BNB could be one of the leading altcoins in the ongoing bull market, targeting $1,000 if the uptrend continues. Sheldon states that Binance’s token "is looking extremely bullish" and is expected to surpass its previous all-time high of $686 from May 2021.

Analyst Kaleo highlights BNB's potential for a "phase of price discovery," recalling its significant growth during the 2021 bull market. Following CEO Changpeng Zhao’s legal resolution in April, decreased regulatory scrutiny positions Binance and BNB favorably for anticipated institutional inflows and increased trading volume.

Trading Volume Soars To $2 Billion, Market Cap Hits $100 Billion

Data from CoinGecko reveals a 15% increase in BNB’s trading volume over the past 24 hours, reaching $2.3 billion. The market capitalization of Binance Coin currently stands at $102 billion, indicating a notable uptrend and renewed investor interest.

Monitoring key levels is crucial for sustaining BNB’s uptrend. Key resistance levels are $671 and $676, while bulls must defend the $633 support to avoid significant losses.

In summary, Binance Coin has outperformed major cryptocurrencies and achieved new milestones. Experts are optimistic about BNB's potential to surpass its previous all-time high and lead the current bull market, exciting traders and investors. $BNB

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