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Sujit Kumar
Dec 4, 2024
by Sujit Kumar

BNB Breaks Resistance and Targets $800 After Record High

BNB Breaks Resistance

Table of contents

  1. Liquidations Fuel Market Activity
  2. Aiming for $800 Resistance
  3. Positive Momentum Ahead
BNB has made headlines by breaking its eight-month-long resistance zone of $572-$619, achieving a new all-time high (ATH). The altcoin surged by 16% within the last 24 hours, marking a critical turning point. The rally signals renewed investor confidence and bullish market sentiment, with BNB's upward momentum intact.

Liquidations Fuel Market Activity

This price surge triggered over $3 million in short liquidations, surprising bears who had expected a pullback. Interestingly, the intense volatility also resulted in $2.26 million in long liquidations, affecting even optimistic bulls. The Average Directional Index (ADX) is well above 25, underscoring the strength of the current uptrend and suggesting a sustained bullish trajectory.

Aiming for $800 Resistance

Having surpassed the $658 resistance, BNB is now setting its sights on $800 as the next critical level. This bullish breakout reflects strong market participation, with technical indicators suggesting the rally has room to grow. Sustained investor optimism and robust trading activity further support the outlook for continued upward movement.

Positive Momentum Ahead

The recent breakout marks a decisive shift for BNB, positioning the cryptocurrency for further growth. If the current momentum persists, BNB could soon approach the $800 mark, solidifying its place among the top-performing assets in the crypto market. With strong technical and market fundamentals, the altcoin’s outlook remains promising despite potential market volatility.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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BNB Breaks Resistance
BNB Breaks Resistance and Targets $800 After Record High
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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