đ„đ„BNB Price Turns Bullish! Binance Coin To Hit $700 This Month?
The crypto industry recorded increased buying pressure in the market last weekend, highlighting the increase in price movement. Moreover, the Sunday-leading Bitcoin price has surpassed the $66,000 mark after Bitcoin was Halved, indicating a positive outlook for the crypto space.
In addition, the #BNB token has recorded a significant jump of about 5% in 24 hours and 4.37% in the last seven days. Positively, at the time of writing this article, altcoins are 93.56% per Annum (YTD). Will the BNB price register a new ATH this month?
#Binance Coin Price Has Recorded Bullish Convergence!
the BNB coin price, which exhibited a weak price movement in 2023, started trading Decently in 2024 with a bullish rating, indicating that the interest in this altcoin among investors is increasing. Moreover, before facing rejection at the upper resistance level, the Binance coin price has increased by over 104% from $311 to $635 this year alone.
Since then, the price has been trading in a consolidated December Dec between $506.5 and $635. On the positive side, the Binance token displayed a strong upward trend on its chart after halving and stressed that there is a high probability of a positive outlook for it in the coming period.
The Relative Strength Index (RSI) has exceeded the midpoint, indicating that there is a bullish strength for the BNB coin in the cryptocurrency industry.
Will the BNB Price Rise?
If the bulls continue to trade under a positive influence, the BNB price will continue to rise and will test the resistance level of $ 635 by the end of next week. Keeping the price at this level will set the stage for the Binance token to try to test the $690.93 ATH mark by next month.
Negatively, if the bearish trend of the BNB token reverses, the price will lose momentum and fall to test the support level of $ 569. Moreover, if the bears continue to dominate the market, they will fall and prepare to test lower support levels.
