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BNB Rally Gains Momentum: Is $800 the Next Target?
The Binance Coin (BNB) market has taken a dramatic turn as it breaks above the falling wedge pattern, sending the token’s price soaring. This sudden surge in value has sparked optimism among traders and investors alike.
As the asset surged 1.24% over the last day to reach $712.51, many are now wondering if this rally will continue further up the charts. With a significant resistance level at $722, there is no doubt that BNB’s price action is being closely monitored by all market participants.
A clear breakout above the mentioned resistance could propel the asset towards the next potential target of $800. However, as the crypto market remains volatile, it is crucial for traders to stay vigilant and analyze any signs of weakness in order to avoid significant losses.
BNB’s impressive showings have not been a one-off event, considering its long-term performance has been positive. In fact, since consolidating at the end of November, the asset has seen remarkable growth.
Source: cryptonewsland.com
