BNB Price Prediction: Binance Preps $400 Breakout, Eyes $440 Next Week

The post BNB Price Prediction: Binance Preps $400 Breakout, Eyes $440 Next Week appeared first on Coinpedia Fintech News

Despite the Bitcoin price witnessing a lethargic movement above the $50,000 mark, the altcoins are taking a quick recovery sprint. With the BNB price skyrocketing with a high momentum post-retest reversal, Binance enters the list of top performers today. 

With a $56 Billion market cap, Binance is finding its lost charm despite being at a discount of 45% from the all-time high of $690.93. Hence, with the ongoing reversal, the chances of a new all-time high are significantly improving. 

So, Will the BNB Price Cross $700? Check out our Binance price prediction and find out how high the BNB price will go in 2024. 

Binance Eyes $400 Breakout

Source- Tradingview

With the rising momentum and the successful retest of the $350 breakout, the BNB price displays a sharp V-shaped reversal. Further, the Binance price showcases a rounding bottom reversal with the neckline at $350.

Hence, the successful retest marks a prominent breakout run, and the rise in trading volume supports the continuation of the uptrend. With the 7% jump overnight, the bullish engulfing candle comes as a strong entry candle with a high possibility of a $400 breakout.

Currently, the BNB price trades at $379.8 with an intraday Doji candle in the making, representing a short pause before the trend continuation. Making the new 52-week high, the sentiments are extremely bullish for Binance in the crypto industry. 

DMI Indicator: With bullish stride, the sharp increase in the ADX line represents a huge spike in trend momentum. 

Will BNB Price Cross $700?

With a 30% jump in the last  30 days, the BNB price showcases a prevailing bullish trend that is continuing and ready for a longer run. Further, the $350 retest jumps heads to challenge the $400 barrier with increased breakout chances. Hence, the possibility of a bull run to the $700 mark for a new all-time high for Binance is increasing day by day.

On a shorter timeframe, the $440 will come as the initial resistance level above $400.