Key Insights:
- BNB broke past $900 with strong volume, setting a new high and targeting the $1,000 resistance.
- Technical indicators show bullish momentum, with MACD positive and RSI at 64.77 below overbought levels.
- Franklin Templeton partnership and BNB Network Company’s 30,000 BNB purchase boost investor confidence.
Binance Coin (BNB) has reached a new all-time high at $903.76, marking a 3% gain in 24 hours. The token was trading at $900.92 with a daily trading volume of more than $1.55 billion. On a seven-day basis, BNB has advanced 5%, extending its rally.
On the hourly chart, BNB broke out of the $880–$890 range, with volume confirming strong buying interest. The sharp move took the price above $900, setting up a new high at $905. Commenting on the move,
Batman stated,
“Two days later, a new $BNB ATH of $905 has been made! Next stop, $1,000!”
Technical Indicators Point to Strength
The daily chart shows BNB trending higher since moving past the $650–$700 range earlier this year. A series of higher highs and higher lows confirms the ongoing uptrend.
The MACD reading places the MACD line at 15.47 and the signal line at 14.32, with a positive histogram of 1.16. Momentum remains in bullish territory. The RSI stands at 64.77, suggesting strength while staying below the overbought level of 70. This leaves room for further price movement before signs of exhaustion. Support is now located around $850–$870, while resistance is focused on the $1,000 mark.
Institutional Activity and Partnerships
The rally coincided with developments around BNB’s ecosystem.
CryptoRank.io noted,
“BNB sets a new ATH of $903. The surge follows news that Binance has partnered with Franklin Templeton to develop a blockchain-based investment product.”
Meanwhile, the partnership adds another link between digital assets and traditional finance.
In addition, BNB Network Company disclosed it had purchased 30,000 BNB, increasing its total holdings to 418,888 BNB. The acquisition underscores continued interest from institutional players in accumulating the asset.
BNB’s move above $900 has shifted attention to the next milestone at $1,000. Strong technical signals, combined with new partnerships and institutional accumulation, support the continuation of the uptrend. Traders are watching whether support near $880 holds as BNB attempts to extend its rally toward the round-number level.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |