The Altcoin market, led by Ethereum (ETH) and Binance Coin (BNB), has gradually gained ground in the recent past about Bitcoin (BTC). The Bitcoin -Dominance in the weekly time frame has experienced a large resistance level of approximately 65 percent, which indicates an imminent reversal to start the 2025 altors season.
In addition, data on chains shows that Defi projects, led by Dexes such as Pancakeswap (cake), have registered a significant increase in daily volume in the recent past
Binance Coin benefits from robust basic principles
As the native coin for the Binance eco system, BNB has benefited considerably from the remarkable positive developments of the BSC chain and the crypto exchange. Last week the United States Securities and Exchange Commission dropped its long -term case against Binance and its top managers.
As Coinpedia reported, the closure of the sec versus binance case will not only have a major positive influence on BNB, but also on the entire cryptomarkt. Moreover, BNB is a large liquidity source for dozens of tokens based on the BSC chain.
What for BNB price now
In the weekly period of time, the BNB price has been consolidating in a range between $ 512 and $ 723 since March 2024, however, the shorter time frame shows that BNB price has built up price Bullish Momentum.
In the daily age of time, BNB Price forms a bullish flag pattern after a solid outbreak of the crypto correction of the first quarter. As a result, if the BNB price consistently closes above $ 691 in the coming days, a rally above $ 790 will be inevitable.
However, a possible closure below the support level around $ 648 will also signal arary sentiment with the following robust goal around $ 635.
Credit : coinpedia.org
