On August 18, 2024, Binance’s native token BNB acquired considerable attention from financiers and traders due to a significant rate rise in this continuous havingahardtime market. According to a coinmarketcap, BNB hasactually seen a cost rise of over 5% in the last 24 hours.
BNB Outperformed BTC and ETH
With this considerable cost rise, it has exceeded Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
This huge cost rise in BNB tookplace following the breakout of the debtconsolidation zone inbetween $498 and $525. With this breakout, BNB has moved to an uptrend as it is moving above the 200 Exponential Moving Average (EMA) on a everyday time frame.
BNB Price Prediction
Based on the rate action and technical analysis, following this breakout, there is a high possibility that BNB might skyrocket 10% to the $600 level in the coming days. However, this debtconsolidation near the assistance level suggests a bullishness.
At press time, BNB is trading near $545 and has skilled a rate rise of over $5% in the last 24 hours. Meanwhile, its trading volume has decreased by 3% throughout the verysame duration, suggesting lower involvement from traders inthemiddleof the havingahardtime cryptocurrency market.
BNB’s Open Interest
However, with this breakout, interest amongst traders and financiers is slowly increasing. According to th
