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$BNB price formed a new all-time high for the third time this month. The altcoin has emerged as one of the best-performing cryptocurrencies in the last few weeks, owing to the resilience exhibited by the token.
Beyond sustaining its rise, $BNB is also continuing its uptrend, pushing it towards $1,300.
$BNB Price Hits New High
$BNB price is trading at $1,209 after forming a new all-time high ($ATH) at $1,223, highlighting the cryptocurrency’s strong upward momentum. This surge came after a sharp rebound from the recently established support at $1,147 last week. The asset’s resilience at these levels indicates continued investor confidence.
Despite recent gains, the $BNB price faces potential downside pressure if investor selling intensifies. Heightened selling activity could push the token back to $1,147 or even lower to $1,046, erasing a significant portion of the recent rally. Market participants should watch trading volumes closely to gauge possible bearish trends.
$BNB Price Analysis">
If the current bullish momentum sustains and investors resist the urge to sell, the $BNB price could reclaim the $1,223 $ATH and target $1,300 in the near term. A break above this resistance would signal renewed market optimism, potentially attracting further buying interest from institutional and retail traders.
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