Although Bitcoin price remains calm above the $50,000 level, altcoins are making a rapid recovery move. BNB With its price rising again with high momentum, Binance entered the list of best performers today.
With a market value of 56 billion dollars Binance, is regaining its lost appeal despite being down 45% from its all-time high of $690.93. So, with the ongoing reversal, the chances of a new all-time high increase significantly.
So, will BNB Price exceed $700? The rest of the news includes the Binance Coin price prediction, continue reading.
Binance Eyes a Break of $400
With rising momentum and a successful retest of the $350 breakout, BNB price is exhibiting a sharp V-shaped reversal. Moreover, Binance price is exhibiting a rolling bottom reversal with the $350 neckline.
Therefore, the successful retest indicates a significant breakout and the increase in trading volume supports the continuation of the uptrend. With the 7% overnight bounce, the bullish engulfing candle appears as a strong entry candle with a high possibility of a breakout of $400.
Currently, BNB price is trading at $379.8 with an intraday Doji candle representing a brief pause before a continuation of the trend. Binance reached its 52-week high crypto- Sentiment in the industry is extremely bullish.
DMI Indicator: A sharp rise in the ADX line with upward steps represents a major jump in trend momentum.
Will BNB Price Exceed $700?
With a 30% jump in the last 30 days, BNB price displays a prevailing bullish trend that is ongoing and poised for a longer run. Moreover, retest jumps to $350 are poised to challenge the $400 barrier with increased breakout chances. Therefore, the possibility of a bull run towards the $700 mark for a new all-time high for Binance is increasing day by day.
In a shorter timeframe, $440 will act as the first resistance level above $400.
