Binance coin: Here’s how BNB surged 26% in a week
While most altcoins struggle in a volatile market, BNB’s resilience is a standout.
- BNB is on a tear, printing long green candlesticks all week.
- Resilient and tempting at current levels, BNB presents a high-risk, high-reward opportunity.
A week ago, Binance Coin [BNB] was at $500 — now it’s up 26%, a textbook case of dip buying.
Volume indicators hint at further upside, but with market volatility in play, is this rally running out of steam? Or can BNB defy expectations and reclaim its $100 billion market cap?
High risk, higher reward
Trading at $640, at press time, BNB has been on a strong run, posting long green candlesticks for the past week. With rising volume, it’s clear that bulls have been quietly accumulating.
History suggests a 4.6% upside before resistance kicks in, but with the MACD flashing a bullish crossover, a breakout could be imminent.
The BNB/BTC pair reinforced this trend, showing investors are betting on Binance Coin as a potential hedge. This resilience makes BNB an attractive buy.
However, with the crypto market cap down 2.64%, is this divergence a ‘high-risk, high-reward’ play that demands extreme caution?
BNB in a high-stakes gamble
Binance Coin is defying the market’s bearish trend, surging ahead while the top four struggled in the red. With momentum on its side, could this be its chance to reclaim a $100 billion market cap and take back its spot from Solana?
A mere 7% climb from its $650 average would seal the deal. Futures traders seem to think it’s possible – Open Interest (OI) was up by 1.05%, wiping out over $500K in shorts.
On Binance’s 12-hour chart, longs are dominating. Traders are rushing in to ride BNB’s breakout amid the market’s wild swings.
With strong fundamentals and fresh speculative capital, Binance Coin seems primed for a 7% surge to reclaim its $100 billion market cap.
But in this high-stakes game, bulls must hold firm to avoid a long squeeze.
