BNB Price Turns Bullish! Binance Coin To Hit $700 This Month?

The crypto industry recorded increased buying pressure within the market over the weekend, highlighting the heightened price movement. Moreover, the price of market leader Bitcoin is above $66,000 after the Bitcoin halving, suggesting a positive outlook for the cryptocurrency space.

Moreover, the BNB token registered a significant increase of around 5% within 24 hours and 4.37% over the past 7 days. Arguably, as of this writing, the altcoin’s year-to-date (YTD) is at his 93.56%. Will BNB price record a new ATH this month?

Binance Coin price records bullish convergence!

After showing a weak price movement in 2023, the BNB coin price managed to start trading bullishly in 2024, demonstrating the growing interest of investors in this altcoin. Additionally, Binance Coin price rose over 104% this year alone from $311 to $635 before facing rejection at the upside resistance level.

TradingView: BNB/USDT

Since then, prices have traded between $506.5 and $635. On a positive note, the Binance token has shown a strong bullish reversal on its post-halving chart, highlighting that the future outlook is likely positive.

The Relative Strength Index (RSI) is above the midpoint, indicating bullishness for BNB Coin in the crypto industry. Furthermore, the averages are showing a bullish convergence, suggesting that prices will continue to rise in the future.

Will BNB price rise?

If the bulls continue to trade under the positive influence, BNB price will continue to rise and test the $635 resistance level by the end of next week. Holding the price at that level will set the stage for Binance token to test the $690.93 ATH mark by next month.

Negatively, if the BNB token experiences a bearish trend reversal, the price will lose momentum and fall to test the $569 support level. Moreover, if the bears continue to dominate the market, the market could fall sharply and prepare to test lower support levels.

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