Key Takeaways
- Binance’s BNB is trading around $845 after climbing roughly 1.5%.
- The coin could push toward a new all-time high as the broader crypto market shows signs of recovery.
BNB Climbs Past $845
The cryptocurrency market started the week on a cautious note, with Bitcoin dipping toward $115,000 and Ether sliding below $8,200. Still, sentiment has begun to improve and most major altcoins are now trading in positive territory.
One of the strongest performers in recent weeks has been BNB, the native token of Binance. BNB hit a fresh all-time high of $868 five days ago and has generally traded with bullish momentum since the start of the year. That rally pushed BNB’s market capitalization above $120 billion for the first time in its history.
After pulling back to a low of $818 earlier on Monday, BNB has regained ground above $840 and may challenge a new record high in the coming hours or days. The recent surge underscores Binance’s position as one of the largest crypto platforms by daily trading volume.
BNB Eyes $900 as Optimism Returns
The 4-hour BNB/USD chart remains constructive despite the recent market correction. Technical indicators look healthier for BNB than for some other major cryptocurrencies such as BTC and XRP.
A 54 reading on the RSI indicates BNB is not in bearish territory, leaving room for buyers to regain control of the market. The MACD lines are also positioned in bullish territory, suggesting buyers currently hold the edge.
If the market recovery continues, BNB could break above the previous high of $868 within the next few sessions. A sustained rally could push BNB to the $900 mark for the first time. Analysts remain broadly optimistic about the token, and many retain a medium-term target near $1,000.
On the other hand, if bulls fail to maintain momentum, BNB may retest Monday’s low of $818 and could decline toward a support level around $793.