Retest and Breakout Potential: After retesting $350, BNB is projected to run beyond $400, with resistance expected at $440.
Quick Recovery in Altcoins: Despite Bitcoin's slow movement above $50,000, altcoins like BNB are rapidly recovering, placing Binance among today's top performers.
Market Cap Insights: With a $56 billion market cap, BNB is regaining popularity, still at a 45% discount from its all-time high of $690.93.
All-Time High Possibilities: The ongoing bullish reversal improves the chances for BNB to reach new all-time highs.
Technical Analysis: A sharp V-shaped reversal and a rounding bottom pattern with the neckline at $350 indicate strong uptrend support.
Trading Volume and Sentiment: A 7% overnight jump and bullish engulfing candle suggest a solid entry point, with trading volume backing the uptrend continuation.
Current Trading Price: BNB is trading at $379.8, with a Doji candle indicating a brief pause before likely trend continuation.
DMI Indicator: A sharp increase in the ADX line shows a significant spike in trend momentum, supporting the bullish stride.
Short-Term Targets: In the short term, BNB aims to break $400 with eyes on $440 as the initial resistance level.
Long-Term Price Outlook: The 30% price jump in the last 30 days and the momentum beyond $350 suggest a bullish trend continuation, with a potential aim for $700.