Whereas most altcoins have fallen as much as -98.5% from their respective all-time highs, BNB is one of the least impacted coins, next to only Bitcoin (BTC), and is, more remarkably, one of the only cryptocurrencies to have reached a new all-time high for the cycle.
This resiliency comes not only from price action but also from solid fundamentals. Binance has built a massive ecosystem where users actively use BNB for transactions, trading fees, and Binance Smart Chain (BSC) interactions. BNB’s heavy use across the platform strengthens its value and supports its resilience.
In addition to that, many traders exchange altcoins for BNB directly, particularly within decentralized exchange settings, which drives even higher demand for the token. Overall, BNB is one of the few altcoins with actual utility, solid fundamentals, and increasing adoption, rendering it the best-performing altcoin next to BTC.
BNB Breakout Signals Strong Bullish Momentum
The 4-hour BNB/USDT chart reveals a healthy breakout to the upside, with the price at $615.46, breaking past the higher Bollinger Band at $613.69, which reflects higher volatility and intense upward momentum.
The Relative Strength Index (RSI) is at 68.32, close to the overbought mark of 70, which indicates that although there is a strong bullish momentum, the asset is likely to encounter some resistance or cooling-off soon.
Backing up this optimism is a confirmation from the MACD, where the MACD line is higher than the signal line with a rising histogram, an indication that momentum is accelerating.
Traders need to be careful because the price has extended above its 20-period moving average of around $601. A correction back to that level is likely.
Nonetheless, the market may also consolidate near recent highs. But generally, the trend is still bullish, with a risk of a near-term correction if overbought levels worsen.
