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BNB New ATH Coming ‘In No Time’ If This Resistance Breaks
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BNB Ready To Breakout? New ATH Coming ‘In No Time’ If This Resistance Breaks

Rubmar Garcia
Rubmar Garcia
2 months ago
3 mins read
Binance, BNB, Bitcoin

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BNB is among today’s market leaders after seeing a 5% surge in the past 24 hours. Amid its recent performance, the token is retesting key levels, leading some market watchers to forecast new highs could be around the corner.

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2 months ago

BNB Retest Key Resistance Levels

On Monday, BNB crowned itself as one of the best-performing tokens among the top 100 cryptocurrencies after climbing back to a key level, attempting to break from its downtrend.

The token has retraced around 20% since hitting its all-time high (ATH) of $793 on December 5, 2024, losing the $700 support zone amid the Q1 market retraces. Since February, its price has hovered between the $500-$700 range, hitting a 6-month low in February.

During last Monday’s correction, the cryptocurrency retested the range lows again, briefly touching $510 before bouncing. Nonetheless, the token has recovered 18% from last week’s bottom, hitting a monthly high.

Notably, BNB attempted to reclaim the $600 level over the weekend, failing to hold it until Sunday night. The cryptocurrency surged 7.7% in the following hours, hitting $643 on Monday morning before retracing.

Crypto analyst Carl Runefelt pointed out that after reclaiming the $600-$620 horizontal level, the token targets its three-month descending resistance line at around $650. According to Runefelt, the token has “all the chances” to break this downtrend line once it “gains some foothold” above the recently reclaimed horizontal levels

BNB
BNB retests key horizontal level. Source: Carl Runefelt on X

Meanwhile, AMCryptoAlex highlighted that BNB broke out of an inverse Head and Shoulders pattern following its performance. Alex also noted that the token surged above the $620 barrier, printing “consistent green candles above the crucial resistance level,” which suggests that it is “primed for more upside.”

BNB Chain Surpasses Solana’s DEX Volume

Ted Pillows also affirmed that BNB’s chart looks promising, with a “double-bottom pattern along with fundamentals getting better.”

The analyst highlighted that the BNB Chain has surpassed Solana’s decentralized exchange (DEX) volume in the past 24 hours, which could fuel the token’s rally to reclaim the $640 level. To him, “Once that happens, BNB will hit a new ATH in no time.”

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Solana Holds Bullish Pattern – Expert Sets $140 Target

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According to DeFiLlama data, BNB Chain’s trading volume surged to $1.64 billion on Sunday, surpassing Solana’s $1.07 billion registered on March 16. The network’s DEX trading volume has also increased by 13.27% over the past week, ranking third during this timeframe.

BNB
BNB Chain surpasses Solana in DEX 24-hour trading volume. Source: DeFiLlama

The surge seems to be fueled by its recent memecoin frenzy, which has been driven by tokens like Mubarak (MUBARAK). The token has seen a trading volume of around $300 million in the past 24 hours, with its price surging 99% in the past day.

Meanwhile, Solana’s network has been experiencing bearish sentiment from crypto investors following the performance of TRUMP and MELANIA, the memecoins of the US President and First Lady, and the crash of the Argentina-backed LIBRA token.

At the time of writing, BNB trades at $627, a 4.18% surge in the daily timeframe.

BNB
BNB’s performance in the one-week chart. Source: BNBUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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