Crucial Levels to Keep an Eye On As the Price of $BNB Reaches Record High
An important break from the inverted head-and-shoulders pattern is shown by BNB price surges.
Following its new high, the Binance currency could find immediate support around $690 and the 20-day exponential moving average.
At $810 and $925, the FIB extension tools have highlighted important resistance levels.
Surpassing Competitors, Binance Achieves Record-High Crypto Inflows of $21.6 Billion in 2024
With an astounding $21.6 billion in 2024 cryptocurrency inflows, Binance dominates the centralized exchange industry, according to statistics from DeFiLlama. A total of $15.9 billion has been received by the top ten exchanges in the world.
As a result, Binance and its native coin, BNB, might benefit from the current upswing in the cryptocurrency market.
Key Resistance Points Illuminated by Fibonacci Levels as BNB Price Approaches $1,200
The BNB price has seen a significant increase of 38% since last month, rising from $543 to a fresh peak of $750. The purchasers made a clean break from a famous reversal pattern known as inverted head and shoulder, with today's jump playing a significant role.
There are three troughs in the chart layout; the central trough, called the "head," extends lower than the two others. If the weekly candle closes over $690, buyers will have a solid basis to push for more rallies.
The BNB price has the ability to surge 61% if the trend continues and it aims to reach $1,200.
