< img width="1200" height="628" alt="BNB cost" data-main-img="1" decoding="async" fetchpriority="high" data-old-src="information: image/svg + xml,% 3Csvg %20xmlns ='http://www.w3.org/2000/svg'%20viewBox='0%200%201200%20628'%3E%3C/svg%3E" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month.webp 1200w, https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month-300x157.webp 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month-1024x536.webp 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month-768x402.webp 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month-150x79.webp 150w" src="https://image.coinpedia.org/wp-content/uploads/2024/04/22135602/BNB-Price-Turns-Bullish-Binance-Coin-To-Hit-700-This-Month.webp"/ >
On August 18, 2024, Binance’s native token BNB acquired considerable attention from financiers and traders due to a significant cost rise in this continuous having a hard time market. According to a coinmarketcap, BNB has actually seen a rate rise of over 5% in the last 24 hours.
BNB Outperformed BTC and ETH
With this considerable cost rise, it has actually surpassed Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
This enormous cost rise in BNB took place following the breakout of the combination zone in between $498 and $525. With this breakout, BNB has actually moved to an uptrend as it is moving above the 200 Exponential Moving Average (EMA) on a day-to-day amount of time.
BNB Price Prediction
Based upon the cost action and technical analysis, following this breakout, there is a high opportunity that BNB might skyrocket 10% to the $600 level in the coming days. This debt consolidation near the assistance level suggests a bullishness.
Source: Trading View
At press time, BNB is trading near $545 and has actually experienced a rate rise of over $5% in the last 24 hours. Its trading volume has actually decreased by 3% throughout the very same duration, suggesting lower involvement from traders amidst the having a hard time cryptocurrency market.
BNB’s Open Interest
With this breakout, interest amongst traders and financiers is slowly increasing. According to the on-chain analytic company CoinGlass, BNB’s open interest increased by 8% in the last 24 hours, and by 2.5% and 4.6% in the last 1 hour and 4 hours respectively.
In the middle of BNB’s remarkable cost rise, other leading cryptocurrencies consisting of BTC, ETH, and SOL have actually experienced a rate drop of 0.25%, 0.40%, and 0.69%, respectively in the last 24 hours.
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