Binance Coin (BNB) demonstrates bullish momentum with a 5% weekly gain, nearing the resistance level of $598.90. Currently trading at $585.50, BNB shows potential for continued upward movement.
Technical analysis indicates a possible breakout beyond $598.90, pushing prices to a four-month high of $652.90. The asset's 20-day EMA and 50-day SMA are surpassed, signaling a bullish trend change.
The MACD indicator for BNB also supports a bullish outlook, with the MACD line set to breach the signal line, indicating strengthening momentum.
A sustained demand could drive BNB to $652.90 and potentially towards its all-time high of $721.80. However, diminished buying pressure could lead to a drop to $522.90.
