By April, can BNB reach $700? The race begins!

Despite the crypto market's decline, Binance's major cryptocurrency, BNB, has grown. BNB rose 18.4% to $607 after bottoming at $512 on April 17. This extraordinary comeback puts BNB in a strong position for a bullish pennant breakthrough and a higher token price.

The current developments surrounding BNB are one reason for its positive outlook. WuBlockchain announced the BNB Foundation's 27th quarterly token burn on Twitter. This burned 1,944,452.51 BNB tokens, worth $1.17 billion. This Foundation staking plan shows their commitment to a deflationary objective that promotes BNB's long-term development and prosperity.

According to the BNB price estimate, BNB's technical aspect bodes well. Critical indicators like EMA and DMI indicate a steady rise. BNB has received significant support from the 50-day EMA, and the bullish DMI crossing indicates rising trader confidence.

Financial professionals and analysts watch the BNB price chart's pennant formation, a technical pattern linked with strong upward movements. This often leads to an increasing trend that might drive prices higher. BNB might reach $775 if it overcomes this configuration. However, several experts are focusing on whether BNB will break $650 before month's end. Maintaining its current positive trends will be crucial to achieving this goal.

Instead, they may be external market movements or supply-related spikes. This may deviate from the trend and delay consolidation. Investors in this circumstance must be vigilant and analyze their trading techniques due to market volatility.

Other Binance network upgrades indicate a bright future and entice investors. BNB's rising use in online retail and decentralized banking shows its growing integration into the cryptocurrency and financial scene.

Its connection with the Ethereum Virtual Machine (EVM) and minimal operating and transaction costs make the Binance Smart Chain (BSC) popular among developers. As a result, Ethereum-based dApps have proliferated.

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