BNB price has achieved a major milestone! Will Binance Coin price rise 50% this month?

Binance Coin recorded a neutral trend for a short period of time, indicating increasing investor apathy towards this altcoin. However, the BNB token has regained momentum and has recorded notable gains over the past few days.

Binance Coin price has recorded a rise of around 5% over the past day, but it has added over 31% to the portfolio this month, highlighting the positive outlook for the token going forward. Additionally, the token has successfully reached $400 and is showing strong performance in the market.

Binance Coin reached $400!

The BNB coin price has been trading in a closed range between $297.5 and $308 for over a week, after which the bullish momentum gained momentum, recording a 10.18% rise over the next two days.

Afterwards, the Binance token showed a neutral trend for a short period of time, indicating weak price movement of the coin in the market. As market volatility increased, the BNB token regained momentum and its valuation surged by about 14%.

The price then traded in a closed range between $348.5 and $364.5 for the next six days. After several attempts, the bulls were rejected at $393.9 after rising 8.78%.

After trading sideways for a while, the Binance Coin price recently rose 5%, reaching $400 for the first time in over two years.

The Relative Strength Index (RSI) continues to hover above the overbought range, indicating strong bullish influence in the cryptocurrency industry. Additionally, the average shows a continued upward trend, suggesting that the price will continue to gain value in the future.

Will BNB price rise?

If the market pushes the price above the resistance of $401, the bulls will gain strength again and prepare to test the upper resistance of $420 this week. Maintaining the price at this level would set the stage for BNB coin to test the $435 upper limit in the coming weeks.

Conversely, if the bears outweigh the bulls, the BNB coin price will lose momentum and fall to test the $384 support level. Moreover, if the bears continue to outweigh the bulls, they will move lower and prepare to test the lower support level of $364.5 in the future.