The BNB coin price has reclaimed its important resistance of $700 with an intraday surge of over 11%. Moreover, with a surge of ~88% in its daily trading volume, this altcoin is currently changing hands at $708.10.
Notably, with the Binance coin price recent surge, will this crypto token dominate the altcoin market rally this month? Let us understand the market sentiments and possible short-lived BNB coin price analysis through this article.
The price of Binance token has added 11.17% to its valuation in the last 24 hours with a trading volume of $3.71 billion, a change of +87.43%. Moreover, this altcoin has surged by 21.47% over the past week, highlighting an increase in the bullish action.
Furthermore, in the longer time frame, it has added 1.19% over the past 30 days and has a Year-to-Date (YTD) return of ~1%. Notably, with a market cap of $99.547 billion, it has secured the 05th position and has a market dominance of 3.1447%.
The Relative Strength Index (RSI) has successfully retested its oversold range in the daily time frame. This has resulted in it recording a sharp rise toward the overbought range with its average trendline witnessing a bullish curve in the BNB price chart.
On the other hand, the EMA 50/200-day displays a similar price action in the 1D time frame. This suggests that the Binance price may continue gaining value in the upcoming time.
If the market favors the bulls, the Binance price could retest its immediate resistance level of $720. Furthermore, if the bullish sentiment sustains, this could push the price of BNB token toward its upper resistance level of $750 this month.
On the contrary, if a trend reversal occurs, the Binance crypto coin could plunge toward its important support trendline of $635. Moreover, if the bears dominate the crypto space, the BNB coin may drop toward its low of $600.
Are you concerned about the long-term price sentiment of the BNB token? Read CoinPedia’s latest Binance Price Prediction 2025 today!
Optimistically, the BNB coin price could reach a maximum trading value of $1,292 this year.
Considering the present market sentiments, the Binance token could range between $1,893 and $2,749 by the year 2030.
At the time of writing, the value of one BNB coin price was $708.10.
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