BNB Coin Surges 11% in 24 Hours, Reclaims $700 Mark

The BNB coin price has surged by over 11% in the past 24 hours, reclaiming the $700 mark and reaching $708.10 at the time of writing. This significant increase in price is accompanied by a surge in daily trading volume of approximately 88%.

The recent bullish action in the BNB coin price is evident in the technical sentiments, with the EMA 50/200-day and RSI displaying increased bullish activity in the daily time frame. The RSI has successfully retested its oversold range and is now trending towards the overbought range, while the EMA 50/200-day indicates a potential continuation of the upward trend.

With the current market sentiments, the BNB coin price could realistically reach its immediate resistance level of $720 in the short term. If the bullish sentiment sustains, the price of the BNB token could potentially push towards its upper resistance level of $750 this month. However, if a trend reversal occurs, the BNB coin could drop towards its important support trendline of $635 or even lower to its low of $600.

In the longer term, the BNB coin has secured the 5th position in the market with a market cap of $99.547 billion and a market dominance of 3.1447%. The BNB coin has added 1.19% over the past 30 days and has a Year-to-Date (YTD) return of ~1%.

Optimistically, the BNB coin price could reach a maximum trading value of $1,292 this year, and considering the present market sentiments, the Binance token could range between $1,893 and $2,749 by the year 2030. At the time of writing, the value of one BNB coin price was $708.10.