Binance Coin (BNB) demonstrated impressive strength recently, breaking through key resistance levels. The price surged above the $525 resistance, signaling potential for further gains. Currently, BNB is trading above $535, consolidating its recent gains.
A short-term rising channel is forming, providing support at $540. Additionally, BNB broke above the 20-day EMA resistance at $524.50, further indicating bullish momentum. Technical indicators suggest a continued upward trend, with the next target being a $550 breakout.
The recent price movements showcase strong momentum, contributing to a positive outlook for BNB in the near term.
