Binance Price Prediction: Will $700 Be the Next Stop for BNB

BNB rally sparked by upbeat news from the Binance chain

• Since February 2024, Binance has created six consecutive weekly bullish candlesticks.

• $BNB surges above $550 resistance with bullish momentum, signaling potential rally extension beyond $650.

• #Binance coin surged over 43% this week, reaching $613, spurred by the announcement of BEP 336 upgrade.

• $BNB is now outperforming Bitcoin and Ethereum, up by 8%, and it broke the $600 resistance zone.

• A rounding bottom pattern is currently influencing the upward trendline in BNB's price.

• Yesterday, BNB formed a high of $633, the highest price since December 2021.

• However, a retracement has been observed, with the price trading near $610 and maintaining support at $600, as well as the 78.60% Fibonacci level.

• As per CoinGabbar Prediction, If Binance exceeds $635, it might challenge the $675 resistance, with the possibility of reaching $700 if it sustains this level.

• In a bearish market, BNB may fall to $550, and could drop further to $500, highlighting cryptocurrency market volatility.

KEY LEVELS :

RESISTANCE LEVEL : $650-$700

SUPPORT LEVEL : $580-$540

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.