Binance Coin (BNB) price has risen and surpassed a significant resistance, leading to expectations for further growth.
BNB Price Surge
BNB price increased by 6.38% over the last week, reaching around $694. In the last 24 hours, trading volume rose by 37.91%, totaling $2.52 billion. This brings BNB's market capitalization to $96.65 billion.
Recent Events in BNB Ecosystem
The BNB Foundation completed its 32nd quarterly token burn, burning over 1.59 million BNB tokens worth more than a billion dollars.
BNB Price Projections
Technical analysis shows that BNB has created a 'cup and handle' pattern, which typically indicates a bullish trend. If the price continues to rise and breaks the $700 level, the next resistance levels could be at $730 and $760. In case of a bearish reversal, support is found at $675 or further at $646.
Nonetheless, market dynamics and technical indicators suggest a significant interest among buyers, predicting possible further price increases for BNB.
