BNB Price Surge: Upbeat Momentum Builds After $724 Breakout 📈
BNB recently broke through the significant $724 resistance level, initiating a strong bullish surge with high trading activity and robust market sentiment. This development leads to speculation about further growth potential and uncharted territory for the token.
The 4-hour chart reveals BNB’s price movement above the 100-day Simple Moving Average (SMA), indicating a bullish trajectory and underlying strength. The Relative Strength Index (RSI) climbed to 78%, reflecting increased buying pressure and a shift to overbought conditions.
On the daily chart, bullish candlesticks signal continued upward momentum, and the RSI’s rise to 76% suggests optimism despite signs of overheating. The immediate target for BNB is reaching $800, but there is caution due to the overbought market.
It remains to be seen whether the bulls can sustain this momentum beyond $724. A continued upward trajectory could take the value even higher, although failing to maintain this momentum might result in a decline back toward support zones.
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