According to Little Horse, the cryptocurrency market has shaken off recent turmoil, with BNB and ETH strongly rebounding after Bitcoin's sharp drop. The BNB price is currently holding steady above $800, while the ETH price is only 3% below its historical high.
As the bullish momentum of major altcoins continues to strengthen, traders are now posing a big question: Will new historical highs be the next stop for these two tokens?
Technical indicators support an optimistic outlook for Binance Coin price predictions.
The BNB price rebounded quickly after a sharp drop in Bitcoin, showing a strong trend. As of now, the BNB price today is $809.97, up 6.11% over the past week, with trading volume surging over 30%.
Institutional confidence is particularly strong, with BNC acquiring 200,000 BNB for $160 million, becoming the largest public holder. This news has brought positive market expectations for Binance Coin.
Technical indicators show a bullish trend. Prices remain above the 9-day moving average ($749.63), with an RSI of 63.54, indicating further upward potential. Both MACD and Bollinger Bands support bullish sentiment, with bulls focusing on the next breakout range of $850-900.
Derivatives trading volume has also surged by 70.58%, reflecting increased trader participation. If the current upward trend continues, especially in light of Bitcoin potentially peaking, Binance Coin is expected to set a new historical high.
Ethereum's price has significantly risen with Bitcoin's recovery, showing strong upward momentum.
Ethereum's price has strongly rebounded from a low of $1,500 in April to currently reach $4,700, just 3% away from its historical high. This rebound has rekindled market confidence in altcoins, with Ethereum now becoming the leader in the market. Current price predictions indicate it may break $4,891, further triggering speculative interest.
BNB is also experiencing a rise. Driven by bullish sentiment from institutions and retail investors, the BNB price is solidly above $800. With Bitcoin recovering from a recent pullback, BNB price predictions may break into the $850-900 range.
Low volatility and record open interest suggest that the upcoming trend may be even more intense. Both BNB and ETH may reach new highs sooner than expected.
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