As the 5th biggest cryptocurrency in the market, BNB price is currently trading at $650, with a market cap of $93.69 billion. As it enters closer to the $100 billion market cap, the Binance coin has increased by 4.44% in 24 hours.
With a new breakout rally in action, will the BNB price reach a new all-time high in 2024? Let’s find out in our latest Binance Coin price prediction.
In the daily chart, the BNB price action shows a bullish recovery rally from the 100-day SMA, gaining momentum. The decendent recovery run has surpassed the $600 psychological barrier, and faces opposition from the 78.60% level at $658.
Currently, it is facing an intraday bull pack of 1.70%, following the 5.18% jump last night. Facing a short-term resistance from the 78.60% level, the uptrend rally could increase to $711 upon breakout.
The MACD indicator shows a positive trend with a surge of bullish histograms. Furthermore, the simple moving average lines in the daily chart reveal a golden crossover.
Amid the recent recovery run, the 100-day SMA witnesses an uptick, increasing the chances of a positive crossover with the 200-day SMA.
Beyond this, the Fibonacci-level spending price targets at 1.272 and 1.618 levels at $778 and $863, respectively. On the flip side, an intense pullback could retest the $600 psychological mark. This will provide a post-retest reversal and opportunity for price action traders.
To understand the possibility of the BNB token reaching the $1,000 mark, read Binance (BNB) Price Prediction!
Binance Coin is trading at $633 with a 5.95% intraday gain.
Next targets are $650, $798, and $924, with a long-term potential of hitting $1,000.
A crucial support lies at $600, which could act as a post-retest entry point.
The crypto market pulses with activity as XRP tests key resistance levels, PEPE hints at…
As investors scan the market for their next big move, one token is beginning to…
Shiba Inu (SHIB), the wildly popular meme coin, has once again made a splash in…
Over the past week, Pepe Coin (PEPE) has seen a sharp rise of around 42%,…
Over the past week, a handful of altcoins broke away from the market consolidation, delivering…
After a long, painful stretch for altcoins, the market is finally showing signs of recovery.…
