The Binance Change’s native cryptocurrency BNB is surging from current lows as accumulation of the coin begins to climb. BNB has risen practically 40% from its five-month low of $500, now buying and selling at $669. The token can also be outperforming the highest 100 tasks within the weekly charts at press time.
The current BNB surge has loads of potential catalysts, together with current market momentum and rumors about Binance promoting most of its Bitcoin (BTC) and Ethereum (ETH) holdings to purchase BNB. Whereas that rumor turned out to be false, the information nonetheless introduced consideration to the Binance coin, sending its value up in the previous few days. Whales and smaller buyers are like are shopping for up the coin, anticipating an extra climb and sending costs up.
Binance coin’s RSI at 62.22 alerts robust bullish momentum, with room for extra upside with out being overbought. If this momentum continues, BNB’s subsequent goal may very well be its all-time excessive of $793.86. The token hit this excessive again in December 2024 when most cryptocurrencies have been creeping in direction of new highs amid a market bull run. An identical run is anticipated to return within the subsequent 2-3 months, led by Bitcoin and prime altcoins. With BNB already on the rise earlier than the altcoin season begins, this might imply even additional surges for the coin as soon as the season begins.
Alternatively, a BNB value drop beneath $685.55 might reverse the bullish development. Binance’s native cryptocurrency is lower than 20% away from breaching its ATH, and might want to keep away from falling beneath $685 to maintain these hopes alive. If the bulls fail to defend this assist degree, its value might drop to $610.98.
Thankfully, the market is essentially bullish on BNB, and value predictions for the token are up. CoinCodex anticipates BNB to proceed rallying over the approaching months. The platform predicts BNB to breach the $800 mark on Apr. 6, 2025. The platform anticipates the asset to proceed rallying to a brand new all-time excessive of $1048.90 on Might 3, 2025. Hitting $1048.90 from present value ranges will entail a rally of about 46.38%.
