![Binance Coin Looks Ready For Another Leg Higher, Analyst Says BNB Shows Strong Breakout To This Level](https://captainaltcoin.com/wp-content/uploads/2023/08/P2P-Review-39.png)
The major cryptocurrency BNB has seen its price jump significantly this week, rising over 10% in the last 7 days. At press time, BNB was trading at $381.15 according to CoinGecko data, up 4.58% in the last 24 hours alone.
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Analysis and Events Fueling BNB’s Rise
BNB has shown impressive resilience and momentum amid the market volatility lately. While Bitcoin struggles above $50,000 resistance, altcoins like BNB are rapidly recovering lost ground.
In the past month, BNB prices have spiked nearly 30%, regaining a $60 billion market cap. However, they remain 45% below BNB’s record high of $690.93. Now, according to Coinpedia’s latest technical analysis, growing evidence suggests that BNB may be gearing up to test or even surpass this previous peak.
![](https://captainaltcoin.com/wp-content/uploads/2024/02/image-823-1024x361.png)
Several key drivers highlighted in the report explain why analysts are turning bullish:
- Price Action Signals: BNB shows a classic V-shaped reversal and rounding bottom pattern with support at $350. This indicates a solid uptrend has formed.
- Trading Activity: Volumes spiked as BNB surged 7% overnight to hit $379. The bullish candle patterns reinforce the emerging trend.
- Momentum Metrics: BNB’s ADX line saw a massive spike just as prices broke out upwards, reflecting an explosion of trend momentum.
With these tailwinds, BNB looks well-positioned to continue running higher in the days and weeks ahead.
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Show more +Upside Targets for BNB in the Near and Long Term
If positive sentiment endures, analysts expect BNB may soon break above the psychological $400 level initially, with tougher resistance anticipated around $440. In the long term, given the regained bullish momentum beyond $350, BNB seems capable of revisiting or even exceeding its previous peak value of $690 in the future. This would represent over 80% upside from the current trading price.
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