Binance Coin price hits ATH of $720: What’s next for BNB?

📆 6/8/2024 1:21 AM
📰 CryptoAmb

⏱ Reading Time:
22 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 68%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Binance Coin [BNB] climbed to an all-time high of $720 during trading session on 6 June before witnessing a minor correction.

showed that at press time, the altcoin had exchanged hands at $706, having declined by 2% from its all-time high.Prior to 3rd June, BNB had trended within a horizontal channel. This channel is formed when an asset’s price consolidates within a range for an extended period. The upper line of this channel forms resistance, while the lower line forms support.

Due to the surge in buying activity in the last month, BNB rallied above the upper line of this horizontal channel on 4th June to close at $686. This was gleaned from readings from the coin’s momentum indicators. For example, BNB’s Relative Strength Index and Money Flow Index were 77.82 and 75.91 at the time of writing.

Confirming the surge in the coin’s demand, its Chaikin Money Flow rested above the zero line at 0.20.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BNB Chain DEX volume surges – Examining what it means for BNB’s priceFor the first time since the 2nd of May, BNB Chain's DEX trading volume climbed higher than $700 million. This was according to Artemis
Source: CryptoAmb - 🏆 22. / 68 Read more »