🚀💥 BNB Surpasses Solana! Is $400 Next?

The Binance Coin has gained significant momentum, surging over 21% since the month's start. Regular token repurchases and burns are believed to be key factors in this recent price boost.

In December, BNB experienced consolidation between $305.1 and $321.3, facing a 10% portfolio loss. Bulls gained traction, breaking resistance with a 5% valuation jump. Subsequently, BNB traded in a consolidated range of $297.5 to $313.5 for thirteen days.

Market volatility led to a remarkable 6,744% surge, followed by a decline from $321.3. Recent bullish momentum resulted in a 14.16% increase, reaching just below the $370.5 resistance level. The current sideways movement indicates uncertainty in retesting the resistance level.

Will BNB Rise Again?

The RSI remains in overbought territory, signaling increased demand. Technical averages suggest a potential downward trend, reflecting mixed sentiments in the crypto space.

If momentum continues, BNB could test the $370.5 resistance. Under a sustained bullish trend, Binance Coin might reach its upper limit of $382.5 by month-end.

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