- BNB price went past the key resistance level of $710 and recorded a new all-time high value of $774.
- BNB’s 24-hour trading volume surged over 100%, implying further price rally.
The altcoin season is blooming with multiple altcoins recording new all-time high values in the market. After TRX surprised the industry with its sky-high price trend and eventually reaching new all time high value, it is now BNB token’s turn. BNB recorded a new all-time high value of $774, with more than 15% growth in the last 24 hours.
BNB Price (Source: CoinMarketCap)
The Binance Coin BNB is trading at above $750, with a 15% daily and 20% weekly price rise. After touching its new all-time high value of $774 for a brief period, it is now trading at around $755. While the market capitalization also recorded a 15% rise and is standing above $108 billion, trading volume is skyrocketing with a 108% rise in the last 24 hours.
BNB Price Breaking Past Strong Resistance Levels
BNB recorded a key resistance level near $640 several times previously. Earlier this year in June, the price went close to $710 but couldn’t keep up with the upward price trend.
With the positive market sentiment combined with several altcoins performing well in the market, BNB surged past the latest key resistance level of $710 and went past $770, reaching a new all-time high value of $774.
Prominent technical analyst Ali commented on the price rally, referring to an earlier prediction he made on Binance Coin. Ali indicated a price breakout for BNB in the next few months and said there is potential for the token to go past $1,630.
BNB Open Interest funding rate is on the continuous rise and recorded a 44.2% increase, as per Coinglass. The increased trading activity combined with a rise in Open Interest, BNB price is set to reach new all-time highs this altseason.
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