Binance Coin (BNB) has set a new record by reaching $880. The market is showing active trading volumes and mixed sentiment among traders.
Record Achievements of BNB
Binance Coin (BNB) has again set a record, trading above $880 before settling near $860. The token showed a daily gain of 3% and a 1% increase over the past week, with trading volume exceeding $2.36 billion.
Market Structure Analysis
Analyst Cas Abbé noted that the recent rise above $800 confirmed a breakout, not a peak. The level has successfully retested as support, creating a strong base for the rally.
> "On July 29, I told you [$BNB] wasn’t topping, it was just breaking out. Today: New ATH at $880. $800 retest confirmed as support, higher lows building a clean rising channel."
Abbé set the next expansion targets at $900 and $1,000, describing the movement as 'expansion mode, not distribution.'
Market Sentiment and Short-Term Forecasts
Market sentiment remains mixed. Data from Market Prophit indicates bearish readings, while analyst CryptoBull_360 suggests BNB is preparing for a breakout above horizontal resistance with possible targets of $1,000 to $1,200.
For now, the $800 support zone remains key. If it holds, traders see room for further price gains.
The recent success of Binance Coin in the market points to its growing popularity and possible further growth, although traders' opinions on the sustainability of this rise are divided.
