BINANCE COIN VALUE APPROACHES $1,000 - IS THERE STILL ROOM FOR INCREASE?
The cryptocurrency market is witnessing a notable surge in the value of Binance Coin (BNB), with the digital asset trading above the $980 mark and above the 100-hour simple moving average. This bullish trend is supported by a key bullish trend line with resistance at $960 on the hourly chart.
At the time of writing, the BNB price stands at Rp 16,480,308, according to current market data. The recent price increase of Binance Coin is attributed to strong bullish momentum, institutional accumulation, and positive market sentiment. This bullish sentiment is further bolstered by Binance's ongoing platform adoption, technical developments like Binance Smart Chain, and the aim to surpass previous all-time highs around $1,079, as of September 2025.
As BNB price reached a new high at $995, it has since consolidated, indicating a period of stability before potentially continuing its upward trajectory. The consolidation phase has initial support near $980, with further support at $970 and $960.
The hourly MACD indicator for BNB/USD shows increasing momentum in the bullish zone, suggesting that the bullish trend may continue in the near term. However, a break below the $960 support could cause the price to drop towards $940.
Key resistance levels for BNB prices are $995 and $1,000, with potential resistance near these levels that may halt the price increase. On the other hand, key support levels for BNB prices are at $970 and $960, providing a floor for the price should it experience a correction.
It's worth noting that the BNB price has surpassed both Ethereum and Bitcoin, highlighting its strong performance in the market. The market cap, trading volume, and circulating supply for BNB/USD are not specified in this report.
In summary, the Binance Coin (BNB) is currently experiencing a bullish trend, trading above $980 and above the 100-hour simple moving average. The digital asset has formed a base above the $900 level and is consolidating after reaching a new high at $995. The hourly MACD indicator shows increasing momentum in the bullish zone, indicating a potential continuation of the upward trend. However, potential resistance may be near $995 and $1,000, while key support levels are at $970 and $960.
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