Key takeaways
- BNB has hit a new all-time high of $1,258.
- The coin has rallied by over 20% in the last seven days, outperforming the broader market.&
BNB hits a new ATH as active monthly addresses soar
BNB, the native coin of the Binance ecosystem, has hit a new all-time high of $1,256. The rally comes as BNB Chain continues to set new and impressive records. BNB Chain monthly active addresses surged to an all-time high of 60 million, up 200% since the start of the year.&
In addition to that, BNB’s Total Value Locked (TVL) increased from $7.58 billion on September 27 to $8.69 billion on Monday, its highest level since May 2022. The surge in its TVL indicates growing activity within the BNB ecosystem&
Finally, data obtained from CoinGlass shows that the futures’ Open Interest (OI) in BNB at exchanges hit a new all-time high of $2.57 billion on Monday. The surge in OI shows that new money is entering the market, with buyers betting on BNB rallying higher in the near term.&
Will BNB hit $1,500 soon?
The BNB/USD 4-hour chart is bullish and efficient as the coin has been rallying in recent weeks. The coin rebounded from a key support level of $730.01 on August 3 to surpass $1k on September 21.&
After retesting the low of $948.45 on September 26, BNB has added 24%& to its value and now trades above $1,250 per coin. If BNB continues its rally, it could hit the $1,300 mark in the near term. An extended rally would allow it to trade above $1,500 for the first time in its history.&
The BNB/USD 4-hour RSI of 81 shows that the coin is currently heading into the overbought region. The Moving Average Convergence Divergence (MACD) showed a bullish crossover last week, indicating a bullish bias.&
However, BB could face a correction following its recent rally. If that happens, BNB could find support at its recent low of $1,134.
The post BNB hits $1,250. How high can it go? Check forecast appeared first on CoinJournal.
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