BNB’s accuracy has dropped by more than 1% in the past 24 hours. If the price corrects, the coin could drop to $687.

BNB put on a spectacular show last week, with the price of the coin hitting a new all-time high. If the latest data is to be believed, then this could be just the beginning as BNB is likely to continue its upward trend.

However, the bears have picked up the pace in the past 24 hours. Will this affect the bull run of the coin?

BNB Hits $900

AMBCrypto earlier reported how BNB has gained bullish momentum and hit ATH. This new price range attracted more traders, causing public interest to surge to the highest level in months.

Due to the rise in price, the coin’s social volume has surged sharply, reflecting its rising popularity.

On June 5, its weighted sentiment rose sharply, which means that the bullish sentiment surrounding the coin is dominant in the market.

Popular cryptocurrency analyst World Of Charts recently posted a tweet highlighting an interesting development.

According to the analysis, BNB could be in the middle of a bull run as it has the potential to grow by 49%. If such a surge occurs, then investors could see the coin surpass $900 in the coming weeks or months.

Is BNB’s bull run over?

While the above data looks bullish, bears have taken control over the past 24 hours as the coin’s value has fallen.

According to data from CoinMarketCap, the coin’s price has fallen by more than 1% in the last day. At the time of writing, the coin is trading at $699.13 with a market cap of over $103 billion.

AMBCrypto’s check on Santiment data shows that the funding rate for the coin has risen sharply.

This looks bearish because, usually, prices tend to move in the opposite direction of funding rates.

In addition to this, the BNB Fear and Greed Index is at 87% at press time, which means that the market is in the “Extreme Greed” phase.

Whenever the indicator reaches this level, it indicates a high probability of a price pullback. AMBCrypto then took a look at BNB’s daily chart to see if its bull run is over.

According to our analysis, BNB’s Relative Strength Index (RSI) is in the overbought zone. This could increase selling pressure, which in turn pushes the coin’s price lower.

Chaikin Money Flow (CMF) has also turned bearish due to the decline.

Read Binance (BNB) Price Prediction 2024-25

Nevertheless, MACD shows a bullish edge in the market.

If BNB turns bearish, then investors may see the coin price drop to $687 as liquidations will rise sharply at this level.