Binance Coin (BNB) Shows Signs of a Bullish Trend, Predicts a Potential Price Surge of Up to 150%

Binance Coin (BNB) is showing signs of a bullish trend, with analysts predicting a potential price surge of up to 150%.

Binance Coin (BNB) has been displaying bullish signs, with some analysts predicting a potential price surge of up to 150%. Crypto analyst Ali points out that a weekly close above the key resistance level of $662 could trigger this upward movement.

If BNB manages to break past this level, Ali suggests that it could set the coin on a "rocket ride" to $1,630. “A weekly close above $662 could trigger the rally,” Ali explains, indicating that this move would confirm a strong bullish trend for the coin.

Over the past 24 hours, BNB's price has seen a 1.31% increase, currently trading at $623.93. During this time, it has been fluctuating within a range of $594.55 and $624.25. While still about 13% away from its all-time high of $720.67, reached five months ago, the market sentiment now seems to have shifted.

Throughout the year, BNB has been consolidating within a narrow range, indicating accumulation. Technical signals, such as the Moving Average Convergence Divergence (MACD), are showing promising signs, with the MACD line crossing above the signal line, which is often interpreted as a sign of bullish momentum.

Furthermore, the Chaikin Money Flow (CMF) indicator is ticking up at 0.12, suggesting that traders are buying in anticipation of more significant gains ahead.

This optimism extends beyond BNB; Bitcoin recently hit a new all-time high, surging past $97,000, while Ethereum also experienced a 7% increase, climbing above $3,300.

In summary, if Binance Coin maintains its momentum and closes above $662, it could set the stage for sustained growth, with $1,630 emerging as the next target.