Analysis of Recent Cryptocurrency Performance

Two major cryptocurrencies were engaged in a race to achieve new all-time high levels. Ultimately, one successfully surpassed the milestone. Despite SOL Coin's strong efforts, it was the unwavering determination and continuous bullish trend of BNB Coin that led to its success. BNB Coin managed to exceed $715, marking a new all-time high.

Insights on Cryptocurrency Trends

Following a 0.1% decline in CPI data on May 15, the price of Bitcoin surged by approximately 7%. Additional supportive data surfaced, with Markus Thielen, the research director at 10x Research, suggesting that an annual CPI of 3.3% or lower could propel Bitcoin to reach an all-time high.

The recent revelation of JOLTS Job Openings data, which boosted investor confidence ahead of Friday's employment data release, initiated the second phase of the rally for the week. Matt Horne, the head of digital asset strategies at Fidelity Investments, recommended in a report on Tuesday that investors allocate 1-5% of their portfolio to Bitcoin. Even at the current price level, this allocation could lead to substantial demand.

BNB Coin Price Analysis

BNB Coin completed the formation of an ascending triangle with the $635 resistance on June 4. Observers will recall the sustained focus on the $635 level over the past months. This threshold marked the final hurdle before reaching the all-time high, and it was breached as anticipated. Presently, the price of BNB Coin has surged above $692, reaching a new peak beyond $715.

If the upward trend persists, the formation's target is set at $775. Typically, following a breakthrough above a robust overarching resistance level, the price is anticipated to retest the breakout zone. The risk of a decline to $635 can only be nullified by securing a closure above the $718 resistance.

Solana (SOL) Outlook

Solana commenced its quest to solidify $162 as a support level on June 3; however, it has not responded as initially expected. While BNB Coin was challenging the $635 mark, SOL Coin should have been contending with the $205 resistance level, crucial for both coins prior to reaching their all-time highs. The 20-day EMA ($166) is gradually ascending, and the RSI remains positive.

In the event that buyers mount a strong push, a new upward movement towards $189 and $205 could initiate from the current levels. Conversely, a close below $155 could shift the target to $140.