Binance's (BNB) surge is once again drawing market attention. BNB broke through its all-time high of $865 as of the 14th, surpassing a market capitalization of $120 billion. As a result, investors and analysts are heavily betting on BNB's potential to break through $1,000.
Cryptocurrency market analyst 'Crypto King' mentioned on social media that "BNB is now just 15% away from entering four-digit numbers", diagnosing that recent steady buying pressure is signaling entry into the next bullish phase. In fact, BNB has risen by over 13% in just the past week after establishing a base at the $550-600 support level earlier this year.
Technical analysis also shows a clear upward trend. BNB rose 16% in this rally after a 20% surge in May. The current major support line is at $793-800, and maintaining this line is expected to solidify its support base. The next resistance line is forming in the $950-1,000 range.
The long-term trend is also positive. Analyst 'Crypto Yoddha' mentioned the multi-year upward trend since 2018, characterized by 'continuous highs and lows'. Particularly, the price consolidation and sideways movement lasting over 1,000 days after the short-term surge in 2021 has now transformed into a powerful upward momentum.
Indicators also support the bullish tendency. MACD recorded 27.35, surpassing the signal line, and RSI entered the overbought zone at 73.35. This indicates strong buying pressure, though a short-term consolidation for profit-taking cannot be ruled out.
Positive changes were also captured in real-use indicators. According to on-chain analysis firm glassnode, BNB's active addresses reached 1,441,548 as of the 13th. This is a significant rebound from around 1,150,000 at the beginning of the week, suggesting that on-chain activity is correlating with price increases. Additionally, 'Whale Insider' reported that BNB's market capitalization has exceeded $120 billion.
BNB is currently showing strong upward momentum in both technical and fundamental aspects. With price, on-chain indicators, and market capitalization all complementing each other and supporting the upward phase, market attention is focused on whether BNB can finally break through the $1,000 threshold.
Real-time news...Go to Token Post Telegram
<Copyright โ TokenPost, Unauthorized Reproduction and Redistribution Prohibited>
