Amidst the marketwide recovery, the Binance price has recorded a significant uptrend over the past few days. Moreover, with the present market conditions, this altcoin could retest its ATH in the coming time.
Planning on investing in this altcoin before the upcoming crypto bull run? Scroll down as, we have uncovered the price sentiments, technical trends, and price projection of the Binance (BNB) token for the current month!
BNB Price Shows An Upward Momentum
With a jump of 6.32% over the past 24 hours and a trading volume of $1.836 Billion, the Binance crypto has successfully held its value above its important support level of $543. This indicates an increase in its buying pressure within the crypto market.
Moreover, the Binance Coin price has scaled up 9.01% over the past week and has recorded a YTD return of +80.75%. This comes despite it recording a correction of 4.39% over the past month. Notably, with a market capitalization of $82.935 Billion, this altcoin has secured the position of the 3rd largest crypto.
Binance Technical Trends
The RSI has successfully retested its halfway mark and is constantly heading toward its overbought range in the 1D time frame. This indicates an increase in the bullish action for the BNB coin price.
The Moving Average Convergence Divergence (MACD) has recorded a constant rise in the green histogram with its averages showing a bullish action. This suggests that the Binance token will continue gaining value during the upcoming time.
How High Will BNB Go In 2024?
If the market continues trading under a bullish sentiment, this altcoin will prepare to test its resistance level of $635 this month. Maintaining the price at that level will set the stage for it to head toward its upper resistance level of $720.6.
Conversely, if the bears regain control over the crypto space, BNB could plunge toward its crucial support level of $454.5 during the upcoming weeks.
