Binance Coin Surges 30% in a Week, Eyes $100 Billion Club

Binance Coin (BNB) has experienced a significant rebound, surging by 30% in just a week. This sharp recovery comes after the altcoin plummeted to $500, marking its most substantial drop in months and erasing its post-election gains. The swift turnaround has seen BNB's market cap surge back above $90 billion, with the potential to reclaim its top-five spot and rejoin the $100 billion club by displacing Solana (SOL).

The recent rally in BNB has been accompanied by a 76% spike in trading volume, raising questions about whether the rally is overheating. However, the Relative Strength Index (RSI) points to further upside, and a Moving Average Convergence Divergence (MACD) crossover hints at a bullish breakout. These indicators suggest that BNB's momentum is building, with the next big test being the $650 resistance level. If BNB can break above this level, a push towards $700 could be within reach. However, if the $620 support level fails to hold, a dip towards the strong support zone at $560 could be on the table.

The latest volume spike and a green BNB/BTC pair indicate that buyers are stepping in, rotating capital away from Bitcoin (BTC) and into Binance Coin. This is a bullish sign, especially with Bitcoin's dominance holding steady. Given this setup, a $650 target does not seem far off, but overheating could stall the rally. If momentum runs too hot, BNB may need another "dip" before making a real push towards $700.

Meanwhile, SOL is holding strong above $200, signaling accumulation. With SOL/BTC gaining traction, this could be the key metric to keep an eye on when deciding whether BNB is the better bet moving forward. As the market continues to evolve, investors and traders will need to monitor these key levels and indicators to make informed decisions about whether to buy the dip or cash out.