BCGAME - Free 5BTC Daily Bonus!- BNB surpasses US$ 724 and maintains upward trajectory
- Trading volume up 125% in latest rally
- Next technical target for BNB is $800
Binance Coin (BNB) has recorded a forte The move has surpassed the crucial resistance of $724 and fueled speculation about its growth potential. This milestone reinforces the asset’s bullish trend, with technical analysis and increased trading volume suggesting that the cryptocurrency is poised for new heights.
Technical analysis points to strengthening of the trend
On the 4-hour chart, BNB is above the 100-day Simple Moving Average (SMA), an important indicator that reflects the strength of the uptrend. This technical behavior has attracted optimism from traders, especially with the Relative Strength Index (RSI) reaching 78%, signaling overbought. This increase, which came from a recent level of 46%, highlights the intensification of buying pressure and strengthening positive sentiment in the market.
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On the daily chart, BNB is also displaying bullish candlestick patterns, indicating the possibility of a continuation of the rally. The consolidation of the price above the SMA reinforces the optimism, positioning the asset in a sustained uptrend. The next major technical hurdle appears to be the $800 level, which is seen as a critical target for investors.
Growth in trading volume
BNB’s recent move was accompanied by a significant increase in trading volume, which rose 125% to $4,42 billion. Open interest also grew 33,78% to $1,46 billion, demonstrating increased market share and renewed confidence in the asset. This data reflects a scenario of growing optimism and a greater influx of investors interested in taking advantage of the bullish momentum.
Targets and challenges ahead
With the resistance of $724 overcome, the market projects the next target at $800. If the buying pressure continues, the cryptocurrency could reach new all-time highs, with analysts even highlighting the possibility of reaching $1.000 in the medium term. However, the support between $680 and $700 remains relevant to contain possible corrections and maintain the upward movement.
