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BNB is among today’s market leaders after seeing a 5% increase in the last 24 hours. Among its recent performances, the token is returning to the key levels, bringing some market observers to predict that new maximums could be around the corner.
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Levels of resistance to the BNB test key
On Monday, BNB has crouched himself as one of the most performing tokens among the top 100 cryptocurrencies after returning to a key level, trying to break from his decay tendency.
The token has retrace about 20% since it reached its maximum of all time (ATH) of $ 793 on December 5, 2024, losing the support area of $ 700 in the middle of the portraits of the second quarter market. Since February, its price has been suspended between the $ 500-$ 700 range, touching a minimum of 6 months in February.
During the correction of last Monday, the cryptocurrency has again tidy up the range again, briefly touching $ 510 before bouncing. However, the token recovered 18% since last week, hitting a monthly maximum.
In particular, BNB has tried to recover the level of $ 600 during the weekend, failing to keep it until Sunday evening. The cryptocurrency increased by 7.7% in the following hours, hitting $ 643 on Monday morning before retracting.
The Crypto Carl Runefelt analyst stressed that after recovering the horizontal level of $ 600- $ 620, the token targeted its line of resistance of three months to about $ 650. According to Runefelt, the token has “all the possibilities” to break this line of trend downwards once it “gains a little foot” above the horizontal levels above. Recently recovered
In the meantime, AmsaPtoalex stressed that BNB came out of an inverse head and shoulders model following its performance. Alex also observed that the token climbed above the $ 620 barrier, printing “green candles consistent with the level of crucial resistance”, which suggests that it is “prepared for more advantage”.
The BNB chain surpasses Solana’s volume dex
Ted Cuswows also said that BNB’s graphic designer seems promising, with a “double bottom model together with the fundamentals they improve”.
The analyst stressed that the BNB chain has exceeded Solana’s decentralized volume (Dex) in the last 24 hours, which could feed the token rally to recover the level of $ 640. For him, “once it happens, BNB will hit a new ATH in a very short time.”
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According to Defillama data, the trading volume of the BNB chain rises to $ 1.64 billion on Sunday, exceeding $ 1.07 billion in Solana registered on March 16. Even the volume of trading Dex of the network increased by 13.27% last week, ranking third during this period of time.
The wave seems to be fed by his recent frenzy of Memecoin, which has been led by signals such as Mubarak (Mubarak). The token has seen a commercial volume of about $ 300 million in the last 24 hours, with its price which increased by 99% in the last few days.
In the meantime, Solana’s network has experienced a bearish feeling by cryptocurrency investors following the performances of Trump and Melania, the Memecoins of the President and First Lady of the United States and the scale of the balance supported by Argentina.
At the time of writing, BNB exchanges at $ 627, an increase of 4.18% in the daily period.
In the foreground image from Usplash.com, graphic designer from tradingview.com