Binance Coin Is Soaring High – Can BNB Get To $40 In Q2?

847
Binance Coin Is Soaring High – Can It Get To $40 In Q2?
Advertisement
   

The last 90 days have been a glorious period for Binance Coin, and the winning streak doesn’t seem to end even now that the crypto is already up by over 430% since entering the market back in 2018. BNB has surged by over 260% within the last 3 months alone. Even more interesting is what just happened.

New All-Time High

Binance Coin has just broken above the $30 resistance to record a new All-Time High price at around $32.80 before scaling down a little. At the time of this writing, Binance Coin is trading at around $31.52 with a current price surge of 10.53%.

The current surge has largely been influenced by a tweet by Binance suggesting that the exchange might be ready to launch DEX 2.0.

BNB Is The Best In Top 10

Judging from the price mechanisms in regard to cryptocurrencies within the top 10 in the charts, it’s pretty safe to say that BNB has been so far the most and best performing crypto of late. That’s despite the recent Bitcoin surge accompanied by the rest of the market.

BNB

Advertisement1xbit

BNB is clearly acing the surging game. As can be seen now, the rest of the market, including Bitcoin, is relatively calm, but Binance Coin is still going bullish.

How Far Is $40 For BNB?

Looking at the crypto’s trend over the last few months, it’s easy to opine that BNB might actually be on the way to breaking yet another record to get to the $40 mark, but it has to deal with some strong resistance on the way. With the current standings, BNB would need to bulldoze through the $35, $37, and $38 resistance levels before breaking above the $40 level.

Needless to say, each of these strong resistance levels would be a new ATH for BNB. At the moment, the crypto looks all bullish, but there might be some retracement coming its way.

According to technical indicators, BNB is about to face an imminent retracement, which may be short-term, after which the coin could surge forward to achieve greater heights. However, this scenario will largely depend on how well BNB handles the resistance levels mentioned above.

Still, looking at the general market situation especially at a time when Bitcoin, which is a major influencer, is expected to go on a build up, things look pretty for BNB.


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.