BNB Ready To Breakout? New ATH Coming ‘In No Time’ If This Resistance Breaks
18 Março 2025 - 6:00AM
NEWSBTC
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. Related Reading: 130,000 Ethereum Moved
Off Exchanges – Bullish Signal? 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 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.” Related
Reading: Solana Holds Bullish Pattern – Expert Sets $140 Target
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. 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. Featured
Image from Unsplash.com, Chart from TradingView.com
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