Binance Coin has installed a new ATH

Binance Coin BNB $713.39 BNB -2.10% Market capitalization $104.08 billion VOL. 24 hours $0.38 billion has overcome the resistance zone for the first time in six months and set a new historical record. This breakthrough was a turning point for the cryptocurrency, which broke out of an eight-month range of $ 572 to $ 619, indicating strong growth dynamics.

Over the past day, the price of BNB has risen by 16%, causing the liquidation of short positions worth $ 3 million. This indicates a change in investor sentiment in favor of growth. However, the high volatility of trading affected both bears and overly optimistic bulls.

At the time of writing, BNB’s share price reached $ 772, its market capitalization is $ 111.20 billion,
and daily sales reached $ 5.80 billion.Technical indicators confirm the stability of the trend. In particular, the Average Directional Index (ADX) is above the 25 level, indicating an upward movement. Such conditions create prospects for further growth in the value of BNB.After breaking through the resistance level of $ 658, BNB is now targeting a new target of $ 800. Continued bullishness among investors could ensure that this mark is reached. At the same time, a correction scenario is possible if cryptocurrency holders start taking profits. In this case, the level of $ 721 will be the support .According to analysts, after a successful breakout to a new all-time high, the price of BNB is aimed at reaching a new psychological milestone of $ 1,000. This could pave the way for parabolic growth in the coming months.To confirm the bullish trend, the price of BNB must close steadily above the resistance level of $ 725. In addition, the Relative Strength Index (RSI) on the weekly chart is trying to rise above 70% for the first time since the beginning of this year, which also indicates a strengthening of bullish sentiment.