Binance Coin (BNB) has achieved a new all-time high, reaching $905. This article discusses the key points that contributed to this increase and the cryptocurrency's future potential.
New All-Time High for BNB
BNB has risen to $903.76, recording a 3% gain in the last 24 hours. The current trading price is $900.92 with a daily trading volume exceeding $1.55 billion. Over the past week, BNB has increased by 5%.
Technical Indicators Support Growth
The daily chart shows BNB trending higher since moving past the $650–$700 range earlier this year. The MACD indicates bullish momentum, and the Relative Strength Index (RSI) stands at 64.77, suggesting room for further growth. Support is located in the $850–$870 range, while resistance is focused on the $1,000 mark.
Institutional Investments and Partnerships
The recent surge in BNB aligns with new developments in its ecosystem. Binance announced a partnership with Franklin Templeton to develop a blockchain-based investment product. Additionally, BNB Network Company disclosed the purchase of 30,000 BNB, increasing its total holdings to 418,888 BNB, highlighting institutional interest.
The rally in BNB and its move above the $900 mark draws attention to the next target of $1,000. With strong technical indicators and institutional investments, further growth seems plausible, while monitoring the support around $880.
