Over the past few days, the price of BNB has surged to levels that are unimpressive but enough to attract interest.
As the altcoin prepares to regain its upward trend from three months ago, interest from BNB holders is also growing.
Changes in BNB Investors
The 22% rise in BNB prices appears to be changing investor behavior, and the indicators are showing signs of this. The Relative Strength Index (RSI) indicates that buying pressure is increasing. This increase in buying activity is a positive sign, indicating that investors are becoming increasingly confident in BNB’s growth potential.
An increase in buying pressure could provide essential support for BNB's rally. A higher RSI generally reflects stronger momentum, and as long as it stays below 70.0, the threshold for overbought territory, it can help keep prices moving higher and attract more investors.
Read more: Binance Coin (BNB) Price Prediction for 2024/2025/2030
In addition to RSI, Chaikin Fund Flow (CMF) also shows encouraging signs for BNB . CMF, which measures the flow of funds into and out of an asset, is on the rise and has hit a monthly high, confirming the growing interest in BNB.
As can be seen from CMF, increasing inflows means more capital is being invested in BNB. This increased interest from investors could further strengthen BNB's rally by providing the liquidity and support needed to sustain the uptrend.
Taken together, these signs suggest a bullish outlook for Binance native tokens .
BNB Price Prediction: The Next Challenge Is Near
BNB price is currently trading above $600 for the first time in over a month. The recent rally helped Binance’s native token reach this price. With this, the altcoin has almost regained the upward trend line it held for about three months before losing support.
If successful, BNB price could rise to $618, the next important barrier for altcoins. This level has been negated only once in five attempts over the past four months. If the strength continues, Binance Token may break through this again.
On the other hand, if the breakout fails, BNB will lose its upward trend again . It will also fall to $575 to test it as support. This would completely invalidate the bullish logic and leave altcoins vulnerable to further declines.
