The post Binance Coin: Mapping BNB’s road to $720 price target appeared on BitcoinEthereumNews.com.

BNB has broken through key resistance levels, positioning itself to target $720. Rising social dominance, bullish indicators, and derivatives data signaled continued upward momentum for BNB. Binance Coin [BNB] is displaying impressive bullish momentum, breaking through multiple resistance levels and reaching new highs.  At press time, BNB is trading at $700.48, up by 8.89% in the last 24 hours. However, the big question remains: can this momentum continue, pushing the coin further toward the $720 level? Breaking resistance levels: Is BNB ready to surge? Binance Coin’s performance over the last few days has demonstrated impressive strength as it breached key resistance levels. Following its breakout from the descending trendline, Binance Coin moved past significant price barriers, such as $678 and $660. Therefore, BNB is now eyeing the next resistance zone at around $720.  If BNB manages to clear this hurdle, it could ignite a fresh wave of bullish momentum, pushing it toward even higher targets. This price action suggests that the coin is well-positioned for further growth, especially if it can hold above the $700 mark. Source: TradingView How is BNB’s social dominance impacting its rally? Additionally, the rising social dominance is providing further fuel for its rally. The metric has surged to 1.74%, indicating a growing interest in the coin.  Social dominance often correlates with increased trading volume and more market participation, which can further drive the price upward. As a result, the boost in social chatter surrounding Binance Coin is likely to contribute positively to its ongoing upward movement.  Therefore, the growing attention on social platforms could help sustain this bullish trend, pushing BNB toward the $720 resistance. Source: Santiment Technical indicators: Bullish signals from RSI and MA cross Looking at the technical indicators, BNB’s outlook remains bullish. At the time of writing, the Relative Strength Index (RSI)…

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Filed under: News - @ February 14, 2025 6:11 am