BNB is currently looking strong and does not follow Bitcoin. Every day breaks records with a new $ 411.7 ATH.
Binance’s official cryptocurrency BNB has many reasons to congratulate hodlers. The upward momentum does not stand still and it seems that the bulls are ready to send their token prices to the moon, and there is nothing to stop them.
The cryptocurrency closed at an all-time high of $ 411.7 on April 6. This price represents a 9% increase during the day. This is not bad considering that there are some downward corrections that other markets have given mixed signals and pointed to Bitcoin’s general trend.
BNB captures the $ 400 price zone
BNB broke the $ 400 zone yesterday, but the figure is now seen as the new hurdle to overcome at this stage of price discovery.
BNB started the day at $ 368, which was a good sign anyway. The previous day went through a minor correction. This bullish wave confirmed that the bull trend is not over. BNB previously posted a 5% drop that kept analysts nervous as the cryptocurrency was overbought.
The Fibonacci extension marks a possible rise to $ 454 before facing possible strong resistance. From there, the next limit will be closer to $ 482.
On the other hand, if the cryptocurrency eventually loses strength and experiences a lower retracement, the same Fibonacci retracement gives a strong boost to the $ 368 area that could simply undo the growth on April 6th.
Appearance is extremely good for BNB. For now, the cryptocurrency has not overreacted to bitcoin fluctuations and is sticking to its own pace. While Bitcoin has struggled to break the $ 60,000 barrier since mid-March, Binance Coin did not stop growing during the same period.