BNB Price Surge Continues as It Inches Closer to the $600 Price Point, Targeting New All-Time Highs

This token has been traversing the range between $575 and $591 in the last week. The Binance coin price surge has been ongoing since April 13, and today, this token has not broken the streak.

The price surge of Binance Coin (BNB) continues as it edges closer to the $600 price point, which is a strong resistance. This token has been moving within the range of $575 to $591 over the last week. The Binance coin price surge began on April 13, and today, April 19, the token has not yet broken the streak. However, we saw some significant spikes on April 17 and 18. Today, the altcoin crypto market has remained positive, and BNB has also seen a 0.80% increase. Additionally, the technical indicators also point to a bullish BNB price prediction.

Binance Coin Price Shows Resilience Amid Market Turmoil

According to a recent post on X by CryptoQuant, the Binance Coin price has been showing significant resilience. The post compared the price performance of BNB with other cryptocurrencies, reaching this finding. According to the data provided, BNB and Bitcoin (BTC) have shown the least decrease in value among cryptocurrencies. As mentioned, many coins experienced massive price drops as the trade war became more serious.

According to the report, such stability and resilience come from the numerous utilities this coin provides. The Binance ecosystem relies on this currency to perform various functions. For example, transactions, exchanges, and trading fees are all paid in Binance coins. As such, Binance users constantly swap other currencies for BNB, always keeping the demand high.

Does the Binance Ecosystem Contribute to BNB’s Stability?

According to the author of CryptoQuant, João Pedro stated that while most altcoins have suffered drops of up to -98.5% from their all-time highs, BNB stands out as one of the least affected cryptocurrencies. It is also important to mention that the BNB price surged to a new all-time high. As such, with its remarkable place in the altcoin market, the Binance Coin price seems to be climbing even higher. Compared to this coin, there have been other altcoins that had a higher percentage of growth. However, they fell very hard, and they are continuing to fall.

Why Binance Coin (BNB) Shows Greater Price Stability?

Dogecoin, Polygon (MATIC), and Cardano (ADA) are three examples of altcoins that reached impressive highs. However, these coins also fell very sharply after hitting such highs, usually seeing a big correction or smaller correction until they stabilize again. Although these coins have a dedicated enthusiast and community base, they always rebound. Some smaller altcoins that have not been able to create such a community are Cake (CAKE), Compound (COMP), and DASH. These experienced the biggest crashes in value as they usually don’t have any support system.

Is BNB Price Set to Soar Higher Despite Bearish RSI?

The Relative Strength Index (RSI) for BNB price action is closing in on 50 points and is climbing, which shows that the bullish momentum is increasing. However, currently, the RSI is at 45, which is still on the bearish side. But, with the current circumstances of global economics, the price of BNB is set to go higher. As the US government has now announced a 90-day pause on all tariffs, the trade war is over, and the markets can recover.