BNB has risen to $743 per token today, begging the question: is such a steep hike justified? In my mind, this price seems too high and detached from the real market value of the asset.
Speculative Factors and BTC Movements
A closer look at the current market will show a similar trend with Bitcoin. BTC hit an all-time high of $102k today but already had a correction. It's dipping toward $101k now. This might show overheating of the market and a possible pullback. The price spiking in BNB also looks speculative, which could be done by opportunistic players inflating the price to get money out from inexperienced traders that entered the market during the bull run.
Time to Lock in Profits?
Now That's the Perfect Time to Lock in Profits for BNB Holders. The $743 price level still stands above what I consider its "red zone", which should balance around $700. There has been no clear fundamental reason, and this happens so suddenly with no justification behind it, thereby making the trend speculative and thus unsustainable, but a correction instead.
Prediction/Recommendation:
A correction could then take BNB back into the balance range to the price levels around $700 or lower. Hence, it would be apt selling at the top as the we may simply re-purchase when prices level off.

$BNB #ProfitZone #SellThePeak