BNB New ATH Coming ‘In No Time’ If This Resistance Breaks
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After seeing a 5% increase in the past 24 hours, BNB is one of the market leaders today. In recent performance, the tokens are retesting key levels, leading some market observers to predict a new high may approach.
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BNB retests key resistance level
On Monday, BNB crowned itself as one of the best performing tokens Among them After climbing back to key levels, the top 100 cryptocurrencies are trying to get rid of the downward trend.
The token has been withdrawn about 20% since the loss of $793 in the Q1 market recovery period on December 5, 2024. Its price has hovered between $500-$700 since February, hitting a 6-month low in February.
On a correction last Monday, the cryptocurrency retested the range again, briefly touching $510 before the bounce. Still, the token has recovered 18% from the bottom last week, reaching a monthly high.
It is worth noting that BNB tried to recover the $600 level over the weekend and it was not held until Sunday night. Cryptocurrency soared 7.7% over the next few hours, hitting $643 on Monday morning.
Crypto analyst Carl Runovt tip After recovering the level of $600 to $620, the token sets its three-month decline resistance line at around $650. According to the girl, the token has “all opportunities”, once “a foothold” “at the level of recent recycling” once “falls a certain foothold”
Meanwhile, Amcryptoalex Highlight After BNB’s performance, BNB breaks away from the reverse and shoulder mode. Alex also noted that the token soared above the $620 obstacle, printing “a consistent green candle above the critical resistance level,” indicating that it “has been launched to get higher space.”
BNB chain exceeds Solana’s DEX
Ted pillows too confirm BNB’s chart looks promising, “double bottom mode and fundamentals are getting better.”
Analysts highlighted that BNB chains have Beyond Solana’s number of diversified exchanges (DEXs) could fuel the token rallies to recover the $640 level in the past 24 hours. For him, “Once this happens, BNB will hit a new ATH immediately.”
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BNB chain’s transaction volume surged to $1.64 billion on Sunday, surpassing Solana’s $1.07 billion registered on March 16, according to Defilama data. The network’s DEX transaction volume has also increased by 13.27% over the past week, ranking third in this time period.
The recent memorial fanatic seems to be powered by tokens like Mubarak. The token has traded around $300 million in the past 24 hours, with the price rising 99% over the past day.
Meanwhile, Solana’s network has been experiencing Bearish The sentiment of cryptocurrency investors follows the collapse of Trump and Melania, the memorial of the U.S. President and First Lady, and the collapse of Argentina-backed Libra tokens.
At the time of writing, BNB trades at $627, with a daily time range of 4.18%.
Featured images from Unsplash.com, charts from TradingView.com
