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- BNB surges 2.43% to $743, with a 7.37% increase over the past week, eyeing the $800 target.
- RSI at 57.79 shows BNB nearing overbought territory, but momentum remains strong for further gains.
- Volume up by 10.16%, open interest rises 6.04%, confirming growing investor confidence in BNB.
As of press time, BNB is trading at $743, marking a 2.43% increase over the past 24 hours. The day trading volume has increased by 3.76% to a total of $3.17 billion. In the last 7 days, BNB increased by 7.37%. The coin is currently ready to break the $800 target, and the upward trend is still strong, indicating this forecast.
CoinCodeCap Trading highlighted that BNB has breached significant resistance. It is now above $700 and the 200-day Simple Moving Average (SMA). The continuation of the bullish streak is reflected in these technical indicators. Analysts are looking at the next hurdles of BNB at $750 and $800 following the milestones passed.
Bullish Trend Continues
It is recommended that investors remain bullish and control their risks. The crucial support area exists at $680, and possible purchasing areas stand at $620 and $640. BNB is still on an upward trend, and traders ought to take advantage of that without losing their profits.
The Relative Strength Index (RSI) is at 57.79, which shows that BNB is entering the overbought zone. Although the coin is not yet overbought, the RSI appears to be getting closer to $70, signifying a possible reversal. Nonetheless, the momentum is still upright, with no sign of a downfall on the horizon.
The bullish view is also presented by the Moving Average Convergence Divergence (MACD). The MACD line is 7.32 and the signal line is 0.38. These indicators indicate a positive bias of BNB and that it is likely to push upwards short term. At the current positive MACD signals, the market remains bullish on BNB.
Source: TradingView
BNB Trading Volume Rises
According to CoinGlass data, trading volume and open interest have grown. The volume has increased by 10.16% to $1.98 billion. The open interest has also gone up by 6.04%, standing at $1.02 billion. These indicators suggest that investors are increasingly believing in the BNB, which proves the bullish sentiment of the coin.
Source: CoinGlass
George revealed that when BNB exceeds its all-time highs (ATHs), the coin will take off very fast. He anticipates the price to increase, with no big drops, because the momentum will still be with the bulls. In case the current trend continues, the BNB could simply exceed past ATH and achieve new heights easily.
The technical indicators and the momentum are indicating a bright future for BNB. The coin is set to achieve the near-future target of $800. The bullish trend of BNB presents an opportunity with investors advised to be optimistic with caution.
Also Read: BNB Surge: Trading Volume Soars; Is $750 the Next Target?
