| -Binance Coin (BNB), and Pancake Swap (CAKE) reached a new ATH. -BNB reached a new all-time high price of $196 on February 18. -CAKE is in the fifth and final wave of a bullish impulse. |
Binance Coin (BNB) is up by 332% over the past two weeks and reaches a new all-time high. While Pancake Swap (CAKE), and Bancor (BNT) also reached all-time high prices.
However, BNB is still in a bullish trend. The crypto rally has overextended and it can reach a local top soon possibly. More so, for the CAKE coin the technical indicator shows huge weakness, hoping for a trend reversal could occur.
Binance Coin (BNB) Price Analysis
According to CoinGecko, the BNB price is at $195, at the time of writing.
BNB price started increasing rapidly since January 22, trading at a low of $38.85. Since then, it has increased by a huge 431% over 27 days, reaching a new all-time high price of $196 on February 18.
Moreover, the technical indicators show that the price is still bullish. More so, the daily RSI is in the overbought state. Furthermore, the BNB Wave 5 touched the final upward move of $196 before correction.
BNB has already reached the top level. So if it has not yet reached that level, it could increase to $240 before undergoing a significant correction.
Pancake Swap (CAKE) Price Analysis
According to CoinGecko, the CAKE price is at 13.10, at the time of writing.
BNB price started increasing rapidly since January 22, trading at a low of $0.65. Since then, it has increased by a huge 1,733%, reaching a new all-time high price of $12.45 on February 18.
The crypto is in the fifth and final sub-wave of a bullish impulse. The two resistance are at $10.66 and $13.72. Since CAKE has already moved well above $10.66, the $13.72 area would likely act as the top.
Moreover, the technical indicators show that the cryptocurrency has started showing weakness. More so, the daily RSI is in the overbought state. Furthermore, the Stochastic oscillator has already made a bearish cross, an indication of a trend reversal.
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