{"id":611449,"date":"2024-06-05T02:00:56","date_gmt":"2024-06-05T02:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=611449"},"modified":"2024-06-11T12:37:32","modified_gmt":"2024-06-11T12:37:32","slug":"bnb-extremely-bullish-analyst-targets-1000-breakout-as-it-hits-new-yearly-high","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bnb-extremely-bullish-analyst-targets-1000-breakout-as-it-hits-new-yearly-high\/","title":{"rendered":"BNB &#8216;Extremely Bullish&#8217;: Analyst Targets $1000 Breakout As It Hits New Yearly High"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Binance Coin (BNB), the native token of the world&#8217;s largest cryptocurrency exchange, has experienced a notable surge of 7% within the past 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This upward movement reflects the overall positive trend in the market and places BNB ahead of the top five cryptocurrencies in terms of performance.\u00a0<\/span><span style=\"font-weight: 400\">Interestingly, an important milestone has been achieved as BNB surpassed its <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/bnb\/bnb-price-recovery-585\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">previous yearly high<\/span><\/a><span style=\"font-weight: 400\"> of $645 from March, as the token reached a high of $673 as of Tuesday.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">BNB Primed For Bullish Surge To $1,000?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Renowned market expert &#8220;Sheldon The Sniper&#8221; <\/span><a href=\"https:\/\/x.com\/Sheldon_Sniper\/status\/95341342\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">believes <\/span><\/a><span style=\"font-weight: 400\">that BNB is positioned to be one of the leading altcoins in the ongoing bull market, with a target of $1,000 if the current uptrend continues.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Expressing an optimistic outlook, Sheldon states that Binance&#8217;s token &#8220;is looking extremely bullish&#8221; and is expected to surpass its previous <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/bnb\/bnb-coin-price-support-572\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">all-time high<\/span><\/a><span style=\"font-weight: 400\"> of $686, which was reached in May 2021, despite being currently down 2.2% from that level.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/crypto-analyst-solana-price-crash-elliot-waves\/\" target=\"_blank\" rel=\"noopener \">Crypto Analyst Predicts Massive Solana Price Crash Using Elliott Waves<\/a><\/div>\n<p><span style=\"font-weight: 400\">Another crypto analyst known as Kaleo draws attention to the distractions surrounding Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) and emphasizes that BNB is on the verge of entering a \u201cphase of price discovery.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Kaleo <\/span><a href=\"https:\/\/x.com\/CryptoKaleo\/status\/85598415\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">reminds <\/span><\/a><span style=\"font-weight: 400\">that BNB played a significant role as an early leader in the previous bull market, suggesting a potential repetition of history in the current market cycle. During the 2021 bull market, BNB experienced substantial growth of 50% in late 2021.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In addition, following the exchange\u2019s CEO Changpeng Zhao&#8217;s conviction in April, the regulatory scrutiny surrounding Binance has significantly reduced. This positions the <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/bnb\/bnb-price-faces-test-600\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">crypto platform <\/span><\/a><span style=\"font-weight: 400\">and its native token favorably to capitalize on anticipated institutional inflows and a surge in trading volume.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Trading Volume Soars To $2 Billion, Market Cap Hits $100 Billion<\/span><\/h2>\n<p><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bnb\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Data <\/span><\/a><span style=\"font-weight: 400\">from CoinGecko reveals a substantial 15% increase in BNB&#8217;s trading volume over the past 24 hours, reaching an impressive $2.3 billion compared to the previous day&#8217;s trading session.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market capitalization of Binance Coin currently stands at $102 billion, indicating a notable uptrend as it has gained over $6 billion within a 24-hour period, highlighting the renewed interest and inflow of capital from investors.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The sustainability of BNB&#8217;s uptrend remains uncertain, and it is crucial to monitor key levels in various potential scenarios, including sustained bullish momentum or a price correction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If the <\/span><a href=\"https:\/\/uniquehot.com\/binance-smart-chain\/bnb-smart-chain-shines-in-q1-triple-digit-surges-in-key-metrics\/\" target=\"_blank\" rel=\"noopener \"><span style=\"font-weight: 400\">bullish trend<\/span><\/a><span style=\"font-weight: 400\"> continues, the next significant resistance levels in the BNB\/USD daily chart are at $671 and $676. These levels represent three-year hurdles for the token and must be overcome for further upward movement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, it is essential for bulls to defend the $633 level, as a breach between this support level and the current price of $668 could result in a significant loss of gains if a retest occurs.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/prices-for-bitcoin-and-5-altcoins\/\" target=\"_blank\" rel=\"noopener \">Crypto Pundit Shares \u201cInevitable\u201d Prices For Bitcoin And 5 Altcoins<\/a><\/div>\n<p><span style=\"font-weight: 400\">In sum, Binance Coin has showcased a significant performance in the market, outperforming major cryptocurrencies and achieving new milestones.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With experts expressing optimism about its future, BNB&#8217;s potential to surpass its previous all-time high and lead the current bull market is generating considerable excitement among traders and investors.\u00a0<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/www.tradingview.com\/x\/6YwSZULG\/\" alt=\"BNB\" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">The daily chart shows BNB&#8217;s price uptrend. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/7W2R5XTA\/\" target=\"_blank\" rel=\"noopener nofollow\">BNBUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Featured image from Shutterstock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Coin (BNB), the native token of the world&#8217;s largest cryptocurrency exchange, has experienced a notable surge of 7% within the past 24 hours.\u00a0 This upward movement reflects the overall positive trend in the market and places BNB ahead of the top five cryptocurrencies in terms of performance.\u00a0Interestingly, an important milestone has been achieved as BNB surpassed its previous yearly high of $645 from March, as the token reached a high of $673 as of Tuesday. BNB Primed For Bullish Surge To $1,000?\u00a0 Renowned market expert &#8220;Sheldon The Sniper&#8221; believes that BNB is positioned to be one of the leading altcoins in the ongoing bull market, with a target of $1,000 if the current uptrend continues.\u00a0 Expressing an optimistic outlook, Sheldon states that Binance&#8217;s token &#8220;is looking extremely bullish&#8221; and is expected to surpass its previous all-time high of $686, which was reached in May 2021, despite being currently down 2.2% from that level. Related Reading: Crypto Analyst Predicts Massive Solana Price Crash Using Elliott Waves Another crypto analyst known as Kaleo draws attention to the distractions surrounding Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) and emphasizes that BNB is on the verge of entering a \u201cphase of price discovery.\u201d\u00a0 Kaleo reminds that BNB played a significant role as an early leader in the previous bull market, suggesting a potential repetition of history in the current market cycle. During the 2021 bull market, BNB experienced substantial growth of 50% in late 2021.\u00a0 In addition, following the exchange\u2019s CEO Changpeng Zhao&#8217;s conviction in April, the regulatory scrutiny surrounding Binance has significantly reduced. This positions the crypto platform and its native token favorably to capitalize on anticipated institutional inflows and a surge in trading volume. Trading Volume Soars To $2 Billion, Market Cap Hits $100 Billion Data from CoinGecko reveals a substantial 15% increase in BNB&#8217;s trading volume over the past 24 hours, reaching an impressive $2.3 billion compared to the previous day&#8217;s trading session.\u00a0 The market capitalization of Binance Coin currently stands at $102 billion, indicating a notable uptrend as it has gained over $6 billion within a 24-hour period, highlighting the renewed interest and inflow of capital from investors. The sustainability of BNB&#8217;s uptrend remains uncertain, and it is crucial to monitor key levels in various potential scenarios, including sustained bullish momentum or a price correction.\u00a0 If the bullish trend continues, the next significant resistance levels in the BNB\/USD daily chart are at $671 and $676. These levels represent three-year hurdles for the token and must be overcome for further upward movement.\u00a0 Conversely, it is essential for bulls to defend the $633 level, as a breach between this support level and the current price of $668 could result in a significant loss of gains if a retest occurs. Related Reading: Crypto Pundit Shares \u201cInevitable\u201d Prices For Bitcoin And 5 Altcoins In sum, Binance Coin has showcased a significant performance in the market, outperforming major cryptocurrencies and achieving new milestones.\u00a0 With experts expressing optimism about its future, BNB&#8217;s potential to surpass its previous all-time high and lead the current bull market is generating considerable excitement among traders and investors.\u00a0 Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":601099,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[13291,86864,88616,91512,92311,11427,88003,89186,86483,79524,79611,6664,14690],"class_list":["post-611449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance-coin","tag-binance-coin-bnb","tag-binance-coin-analysis","tag-binance-coin-news","tag-binance-coin-price","tag-bnb","tag-bnb-analysis","tag-bnb-news","tag-bnb-price","tag-bnbusd","tag-bnbusdt","tag-crypto","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>BNB &#039;Extremely Bullish&#039;: Analyst Targets $1000 Breakout As It Hits New Yearly High<\/title>\n<meta name=\"description\" content=\"BNB, the native token of the world&#039;s largest cryptocurrency exchange, has 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