beincrypto.com
BNB established a new all-time high (ATH) at $774 after the altcoin’s price shot up by 16% over the last 24 hours.
In doing so, the crypto asset breached the six-month-long resistance of $721, which was the former ATH.
BNB Makes New Highs
BNB’s price experienced a major turnaround last month after breaking through the 8-month-long resistance block between $572 and $619. Despite struggling with the $658 resistance in recent weeks, the altcoin succeeded in pushing past it in the last 24 hours, triggering renewed bullish sentiment. The breakout marks a strong upward momentum for BNB.
Following the breakout, BNB reached a new all-time high and is now targeting $800 as the next resistance and support level. If this momentum continues, a push towards $800 is possible, driven by sustained bullish interest. This sets a positive outlook for the altcoin’s price trajectory.
However, profit-taking could disrupt the rally. If investors decide to sell their holdings, a correction might follow. Such a pullback could bring BNB’s price down to its support level at $721. If the price declines further, the bullish outlook would be invalidated, and a shift toward a more cautious market could occur.