$BNB

BNB: Consolidation Week with an Eye on Recovery

This week has shown an interesting evolution for Binance Coin (BNB), the native cryptocurrency of the Binance ecosystem. After a period of volatility, BNB has entered a phase of consolidation, operating in a defined range but with clear underlying bullish signals.

Technical analysis indicates that BNB has managed to stay above key supports, such as the 20-day exponential moving average, which suggests a persistence of positive sentiment among investors. While resistance at $698 USD has presented a challenge, a sustained break above this level could push BNB towards $732 USD and even $761 USD, paving the way for new highs.

Although some profit-taking is observed at higher levels, BNB's ability to recover from dips and the buying pressure on the dips are indicative of a solid base. The proximity of the Relative Strength Index (RSI) to the overbought zone could signal a possible short-term correction, but the overall trend remains favorable for the "bulls" in the medium term. Investors' eyes are on overcoming current resistances to confirm a new phase of growth.