Binance Coin Hits New All-Time High: Can BNB Reach $900?

Binance Coin (BNB) recently rose to a new all-time high in price above $750, and analysts are already predicting further highs above $800. The coin is up 10% in the last 24 hours and is up over 30% in the last month. With growing bullish sentiment in the crypto market, Binance Coin now has a market cap of over $109 million and investors are optimistic about its future.

BNB has a 24-hour trading volume of $5.5 billion and has maintained a similar value every day for the past few weeks. This increases the likelihood that this increase will continue for a while, which is very attractive for BNB investors. The market predictions for Binance’s native cryptocurrency are becoming more and more optimistic, with new/higher price predictions coming. Will this latest rally push BNB price above $900?

Binance Coin (BNB) to $900 and more?

On the daily charts, BNB price action shows a massive bullish engulfing candle that formed yesterday. This represents a 13.50% increase from the opening price of $648 to the closing price of $735.50. A similar increase over the next 24 hours would see BNB hit $800 for the first time, paving the way to $900.

BNB’s uptrend is breaking the previous high of $724.70 and approaching the 1.272 Fibonacci level located at $812.10. As a result, a supply zone between $800 and $812 is expected to form. This creates a new established floor level for the token and opens the door for a new, higher resistance level to be broken. Based on Fibonacci levels, a Binance Coin uptrend past $812 will target the 1.618 level at $923.30.

According to CoinCodex, BNB will break $800 by mid-December. The platform expects the asset to reach a high of $839.19 on December 16, 2024. Reaching $839.19 from current price levels would represent a rally of around 11.14%.