Binance Coin (BNB) has had a strong upward trend lately, with its price increasing by 4.32% over the past week, trading above $730. This continuous growth suggests a possible breakout, supported by promising technical indicators.
The short-term price targets for BNB are $757 to $795, with a bullish breakout to $840 possible according to the Fibonacci projection of 1272. On the other hand, the support level of $705, consistent with the 100-day EMA, offers a solid safety net for traders.
$The market sentiment around BNB is very positive, as reflected by its fear and greed index score of 78 (extreme greed). Over the past year, BNB has shown remarkable resilience, recording a value increase of 142%, outperforming Bitcoin, Ethereum, and 69% of the top 100 cryptocurrency assets. It is trading 19.22% above its 200-day simple moving average (SMA) of $607.24, indicating ongoing market strength.
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