Cryptocurrency

Binance Coin (BNB) Records a New ATH Over $50

-BNB hits a new all-time high of over $50.
-BNB/USDT shows great performance in the past few days.
-The crypto can be seen to run along with the bulls in breaking the resistance level of $50.6

Binance Coin (BNB), a digital currency saw a solid 12% price increase today as it hit a new ATH price of around $50.

BNB hits a new all-time high over $50

Binance Coin had recorded its previous ATH on January 19, 2021. When it managed to hit the $47 level. From there, it started to head lower until support found at $38 on January 21st, which allowed BNB to rebound.

Over the past week, BNB had climbed by a total of 17%. According to CoinGecko, the BNB price is at $49.43, at the time of writing.

BNB/USDT daily price (Source: TradingView)

BNB/USDT shows great performance in the past few days. If this continues, the crypto can be seen to run along with the bulls in breaking the resistance level of $50.6, which can lead towards a high price of $55.

On the contrary, if the BNB price fails to maintain its position with the bulls, the crypto might break out its bullish position and fall down along with the bears at the support level of $47.3. In this case, the crypto must find a way to recover quickly. Because if not, the Binance Coin price might fall even more. 

Furthermore, BNB initially issued as an ERC-20 token on the Ethereum platform. The initial total supply of BNB was 200 million coins, but due to the continuous coin burn, the supply is gradually decreasing.

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

Related Articles

Back to top button