Binance Coin (BNB) has reignited its price ascent this week after undergoing key technical tests. With Bitcoin’s stagnation above $56,000 contrasting with BNB’s sudden spike above $400, the top exchange token looks poised to retest critical upper resistance levels soon.
After retracing last year, BNB spent considerable time centering around $300 support. However, this lateral price action has given way to a renewed uptrend recently.
Binance Coin currently trades around $400, up 30.6% in the last 30 days alone as positive momentum accelerates. With trading technically in an overbought state, indications favor continuation higher over most probable pullbacks for now.
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How high can BNB go this weekend?
BNB has broken the key $400 psychological level recently. This could trigger FOMO and propel BNB towards retesting former all-time highs above $690.
Drawing insights from BNB’s behavior at the beginning of 2024, cryptocurrency experts at Changelly have offered their price projection for Binance Coin for the weekend.
During this period, it is anticipated that the coin’s price may reach an average of $420. Within the same period, the minimum expected price is $416, while the maximum price target is set at $440.
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After concerns around the Binance exchange rocked investor confidence last year, BNB looks to have reawakened the strong fundamental narrative supporting it since its inception.
Having reclaimed its bullish momentum decisively this week, all eyes are now set on the next leap as Binance Coin surpassed the $400 level.
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