BNB (Binance Coin) is in the spotlight as its price approaches the psychological $666 resistance level. According to CoinMarketCap data, the BNB price is $630.49 at press time, marking a 0.50% increase over the last 24 hours.
Additionally, the 24-hour trading volume has increased by 58.22% to $2.55 billion. The rising volume indicates increased market activity and investor interest in the BNB coin.
A technical analysis of the price action shared by prominent crypto traders on Twitter (now X) indicates that BNB has been consolidating within a critical range.
An analyst highlighted the significance of the $666 level, suggesting that a breakout above this resistance could propel BNB toward a new all-time high (ATH) at four digits.
BNB Price Prediction: Four Digits Is Within Reach
Several cryptocurrency analysts forecast a four-digit target price for BNB, and traders are monitoring major resistance levels, particularly the $666 level. If BNB can break through its current price level, traders expect it to rise towards $1,000, as shown in various technical charts.
Crypto analyst BitBull is watching BNB’s $666 resistance level. They note that if BNB can break past this critical price point, it could reach a new all-time high.
This tweet points out that if BNB’s price goes above this barrier, it might rise toward $1,000, which is a significant milestone. The charts show that the price has been stable at resistance levels, similar to past breakouts that led to significant price increases.
Crypto Bull also shares a similar bullish view, indicating that four-digit ground is well within Binance Coin’s reach. The tweet suggests the BNB coin is poised for a significant price increase, confirming the $1,000 mark. The chart reveals a breakdown of the falling trendline, which could signal new bullish momentum.
With BNB hovering around $639 at the time of posting, Crypto Bull suggests that upward pressure is building, and a breakout could send prices soaring.
Since BNB reached an ATH of $793.35 in December 2024, a surge toward $1,000 represents a new record high and could trigger further FOMO (Fear of Missing Out) among investors.
The immediate focus for traders is whether BNB can successfully break past the $666 resistance level. If this level is cleared with high volume, analysts predict an explosive rally toward $700-$750 in the near term. However, failure to break this resistance could see BNB revisiting $600-$620 for support before attempting another push higher.
Why Binance Coin Keeps Doing Well
BNB has strong fundamentals beyond price speculation. The Binance ecosystem is growing, with more use in DeFi, NFTs, and GameFi. The Binance Smart Chain (BSC) is a top choice for developers to create decentralized applications, keeping the demand for BNB tokens steady.
A major reason for BNB’s recent price increase is its liquidity campaign. According to CoinMarketCap, the campaign has increased trading on the BNB Chain by 659%.
PancakeSwap, the leading decentralized exchange (DEX) on the BNB Chain, has been responsible for much of that increase. PancakeSwap captures 90% of the BNB Chain DEX market share, eclipsing Uniswap, and generates over $1.49 billion daily in trading volume. This increase in trading activity is a strong catalyst for the BNB price.
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