#Binance Coin (BNB) has broken through the psychological resistance level of $500, indicating a bullish momentum in its price.
The current trend suggests a potential retesting of its all-time high near $700.
Since October 2023, $BNB has shown steady parabolic growth, rebounding from $200 and increasing by 161% to its current trading price of $530 over the past five months.
The recent surge in price has seen BNB climb from $303 to $530, marking a 76% increase.
Notably, there have been five consecutive green candles in the daily chart, indicating a robust recovery for BNB.
A rounding bottom pattern is currently influencing the upward trendline in BNB's price.
On the 4-hour chart, $BNB is trading within a Bullish Flag Pattern.
As per CoinGabbar Prediction, Sustaining support above $500 could potentially lead to a rally towards $570, followed by neckline resistance at $670.
KEY LEVELS :
RESISTANCE LEVEL : $538-$550
SUPPORT LEVEL : $515-$500
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.
