Reaching a price of $700 for BNB is technically possible, but it depends on several technical and market factors. Here’s a simplified analysis of the likelihood:
What supports the rise to $700:
1. Overall upward trend: BNB has broken important resistances (such as 600 and 630), which reinforces the continuation of the trend.
2. Positive overall market: If Bitcoin and Ethereum continue to rise, BNB will likely follow.
3. Good technical momentum: Indicators like MACD and RSI currently support the rise, despite approaching saturation areas.
What may hinder the rise:
1. Strong resistance at 680 - 700: Profit-taking may occur in this area.
2. Weak trading volume: If the rise is not accompanied by strong trading volume, momentum may stall.
3. General market correction: Any overall decline in major cryptocurrencies may pull BNB down with it.
Conclusion:
Yes, it is likely that BNB could reach $700 in the coming days or weeks if resistance at 640 - 650 is consistently broken and supported by the overall market.
However, it is essential to monitor price behavior at 680, as it is the dividing line between continuing to rise or starting a correction.
