Binance Coin (BNB) Surges Above $500, Poised to Retest All-Time Highs
Binance Coin (BNB) has reignited its price surge this week after undergoing key technical tests. With Bitcoin’s stagnation above $66,000 contrasting with BNB’s sudden spike above $500, the top exchange token looks poised to retest critical upper resistance levels soon.
Renewed Uptrend After Lateral Price Action
After retracing last year, BNB spent considerable time centering around $300 support. However, this lateral price action has given way to a renewed uptrend recently.
How high can BNB go this weekend?
BNB has broken the key $500 psychological level recently. This could trigger FOMO and propel BNB towards retesting former all-time highs above $690. Cryptocurrency experts at Changelly have offered their price projection for Binance Coin for the weekend.
During this period, it is anticipated that the coin’s price may reach an average of $541. Within the same period, the minimum expected price is $514, while the maximum price target is set at $568.
Having reclaimed its bullish momentum decisively this week, all eyes are now set on the next leap as Binance Coin surpassed the $500 level. CoinGecko data shows that BNB is up by over 5% in the last 24 hours.
BNB coin is faring decently despite the regulatory clashes around Binance globally. The world’s largest cryptocurrency exchange is now facing scrutiny in Nigeria.
