The rise in power of the Ethereum (ETH) price greater than $ 2.6,000 in the last 24 hours played a crucial role in the bullish recovery for the Binance play (BNB). According to Coingecko crypto data, BNB Price earned more than 2% in the last 24 hours to exchange around $ 687 Tuesday, at the end of the North American negotiation session,
As a result, BNB has found a market capitalization of more than $ 100 billion, with an average negotiation volume of around $ 1 billion. The notable elevation of the Crypto Fomo has considerably helped BNB Price to find the bullish feeling in the middle of the long -awaited season.
BNB increases on favorable fundamentals
The rise and adoption of the BNB channel by traditional users have greatly strengthened the success of its decentralized financial products. For example, Pancakeswap (Cake) continued to record the historical daily volume after the prevailing remote adoption of the tokens and the same of the ecosystem.
According to data from the Defillama market, the BSC network had a total locked value of approximately $ 6.5 billion and a market capitalization of the stablescoins of around $ 10.1 billion. Most importantly, the BSC channel has recorded an average daily active user of around 2 million.
Short -term targets
BNB Price gradually followed the action of the Bitcoin price (BTC) in the past two months. In the past three weeks, the BNB price has been consolidated in a symmetrical ascending triangular model, with a crucial level of resistance around $ 687.
Consequently, it is prudent to assume that BNB bulls have gained more ground on sellers in the past.
With the price of bitcoin at the dawn of a major rally, catalyzed by an increased demand from institutional investors, the BNB price is well positioned to rally beyond $ 687. In addition, the four-hour MacD line remains above the zero line in the middle of increasing bullish histograms.
As the four -hour relative force index (RSI) operates on drilling the level of 70%, the BNB price to reach more than $ 790 soon.
