🚀 BNB Bulls Eye Record Highs — $1,000+ in Sight

After rising 8% last week, BNB price extended its gains on Monday.

CEA Industries, listed on Nasdaq, is the biggest corporate BNB holder after buying 200,000 tokens for $160 million.

Technical indicators imply more advances toward $861, its all-time high.

The former Binance Coin (BNB) trades beyond $820 on Monday, extending gains from last week's 8% surge. The Sunday report that Nasdaq-listed CEA Industries (BNC) acquired 200,000 BNB coins for $160 million spurred this rally. The technical setup implies bulls will push for $861, its all-time high.

CEA Industries, listed on Nasdaq, bought 200,000 BNB coins for $160 million on Sunday. The business became the biggest corporate holder of BNB internationally after winning a $500 million private placement sponsored by 10X Capital and YZi Labs to form the first US BNB Treasury Company.

“[The firm] plans to continue purchasing BNB until the initial treasury capital is fully deployed and may tap up to $750 million more (...) if fully exercised, total proceeds could approach $1.25 billion for additional BNB acquisitions,” said its news release

As exposure, growth, liquidity, and acceptance improve, this news release bodes well for the BNB cryptocurrency. BNB increased marginally on Sunday and is over $820 on Monday.

BNB bulls expect record highs
On Tuesday, BNB price met its weekly support around $742 and climbed over 7% in five days.

BNB might reach its all-time high of $861.10 on July 28 if it keeps rising. BNB would enter price discovery phase with bulls eyeing $1000 if it closes above this level.

Bullish momentum may continue as the daily chart's Relative Strength Index (RSI) is 65, above neutral and below overbought. Moving Average Convergence Divergence (MACD) lines are poised to crossover bullishly, supporting the current rise.


BNB may fall further to support at $795, its daily level.

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