**Extended Summary:**
The price of $BNB is on track to reach $500, driven by the recent appearance of crypto bulls in the market. Despite consolidating within a descending parallel channel, $BNB has shown remarkable resilience, remaining under the control of bulls even amidst market uncertainty.
The current bullish trend suggests potential for $BNB to surpass its previous high of $387.30 and reach the $500 mark in the near future. This bullish scenario is supported by technical indicators such as the Relative Strength Index (RSI) pointing upwards and the Awesome Oscillator showing signs of a continuation of the bullish trend.
However, caution is advised as the crypto market is highly volatile. A drop below the key support level at $340 could invalidate the current bullish trend, potentially triggering a prolonged correction in the price of $BNB.
Do you think $BNB will manage to surpass the $500 mark in the short term, or do you believe there will be a correction before reaching that target? Share your opinions!
