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BNB Rally Gains Momentum: Is $800 the Next Target?
BNB’s breakout above the falling wedge pattern has sparked optimism in the market, as traders and investors alike begin to flock towards the cryptocurrency. The recent surge, which has seen BNB reach a new high of $712.51, has caught many by surprise.
With on-chain activity and derivatives data supporting this bullish outlook, some are already looking ahead to potential price targets. If BNB can successfully push past the crucial resistance level of $722, it’s possible that the cryptocurrency could see a sharp upward movement towards $800.
However, market conditions remain volatile, and traders would be wise not to get too carried away by recent gains. While BNB has made impressive strides in regaining its footing, there are still significant challenges ahead that need to be addressed before we can say with certainty whether this rally will continue.
Regardless of the outcome, it’s undeniable that BNB’s price action has been nothing short of remarkable. With active addresses rising to 751,000, it seems clear that investor interest is on the rise once again.
Source: cryptonewsland.com
