Binance Coin (BNB) Remains Strong: Will Price Reach $400 This Week?
As soon as the Bitcoin price reached new highs near $53,000, the bears took back control. The price of #BTC quickly fell below $ 52,000, which triggered a new phase of consolidation in the markets. Amid the growing concerns about the next price movement, an altcoin ranked in the top 5 shows its strength. The price of BINANCECOIN (BNB) continues to maintain its high trend, confident that it will move towards new highs.
Just a few months ago, the uncertainty about the future of the Binance exchange had led to a big drop in #BNB prices. While many believed that the token could return to double-digit levels, a slight recovery suppressed the downward trend. Since then, the price has increased by over 60%, reaching its previous levels; it was last traded in May 2022. Regardless of the other altcoins, the BNB price remains high, which indicates that the markets may turn bullish after a pullback very soon.
Can the BNB price reach $ 400 before the end of the week?
The weekly chart of the BNB price is extremely bullish and indicates that the price may reach the four-digit price target at the peak of the upcoming bull run. Price is trying to copy the 2021 bull run by creating a similar technical pattern. In the long run, the RSI broke above the upper resistance for the first time since December 2020, which increased the price by over 1600% for the next 6 months. If a similar trade is repeated, the BNB price cannot fall below $ 900, and $ 1000 may not be a boring task.
In addition, the token rose above the critical resistance Decile between $338 and $351 in the short term after multiple failed attempts. Therefore, it is believed that the price may continue its steep rise in the coming days, reaching $ 400, which may confirm that the upward trend will be revived. Therefore, BINANCECOIN's (BNB) price forecast for the month continues to rise, and the targets are above $ 400.
