Binance Coin Blasts Past This Key Level: Here’s How High BNB Prices Could Go If Uptrend Persists
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.
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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