BNB price continues to show strength, leading traders to place an $800 price target on the Binance exchange token.
BNB (BNB) price is trading below $600 after a two-day rally saw it increase its value by 5.5% to reach a high of $605 on May 9.
Even with today’s pullback, data suggests that BNB price remains bullish on the longer timeframe. The layer 1 token has soared 83% over the last 30 days and 91% in 2024 alone to reach a multi-year $645 on March 16. This rally brought BNB within a 7% reach of its all-time high of $690 reached on May 10, 2021.
Since then, BNB has been consolidating within a wide range, stretching from $500 to $620, leaving many traders wondering when the token will break out toward its all-time highs.
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Source: https://cointelegraph.com/news/3-reasons-why-traders-put-an-800-target-on-bnb-price