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Cryptocurrency News Articles
BNB Breaks $600 – Can the Altcoin Reach $620 Next?
Oct 05, 2024 at 07:00 am
Binance Coin [BNB] has surged past the crucial $600 level, drawing attention from traders eyeing its next potential target at $620.
Binance Coin (BNB) price has been consolidating within a narrow range for the past few weeks, following a strong rally that saw the altcoin reach a record high of $720. To sustain this momentum amidst market turmoil, BNB began accumulating in June. This phase saw the price moving back and forth within a confined area.
If this ascending triangle holds, BNB’s next target could be a return to the resistance line. At this juncture, two scenarios are possible: if bullish momentum is strong, BNB could potentially rise to $720 or higher, surpassing its all-time high.
On the other hand, if the support levels of the currently developing ascending channel fail, the token could fall to $495.8, where the consolidation’s support line lies.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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