BNB has risen 16% in the last 24 hours, setting a new all-time high (ATH) of $774 for the altcoin price.
As a result, BNB has renewed its previous ATH of $721 in just 6 months.
BNB, a new all-time high
The price of BNB has reached a major turning point after breaking through an 8-month resistance range between $572 and $619 last month. It has struggled with the $658 resistance in recent weeks, but has broken through it in the last 24 hours, triggering a new upward trend. This breakout indicates strong bullish momentum for BNB.
After the breakout, BNB has reached a new all-time high, and now has $800 as the next resistance and support level. If this momentum continues, the rise to $800 may be possible due to sustained buying interest. This presents a positive outlook for the price trajectory of the altcoin.
However, profit-taking could disrupt the rally. If investors decide to sell their holdings, a correction may occur. Such a pullback could lower the BNB price to the $721 support level. If the price falls further, the bullish outlook may be invalidated, leading to a more cautious market.
