Can Binance Coin [BNB] Achieve A New All-Time High In June 2024?

Sahana Kiran
Binance Coin
Source – Binance

The overall cryptocurrency market was enduring a turbulent June. Meanwhile, Binance Coin [BNB] changed the notion by positioning itself for an unstoppable trajectory. Just last week, BNB hit an all-time high of $720.67.

However, at press time, the asset was 15.16% down from its previous high. While the altcoin tries to reclaim this level, the asset’s downward pull seems to be stronger. The asset is currently trading at $610.94 following a 0.64% daily surge.

While the asset is significantly lower than its peak, the community expects the asset to achieve a new high. According to Changelly, BNB is expected to have a bullish month. The platform revealed that the cryptocurrency will encounter a notable surge and reclaim its previous high by June 25, 2024.

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In addition to this, BNB is slated to record new highs almost every day throughout that particular week. The maximum price that the asset will hit is $766, marking a 26% rise from its current level.

Also Read: Binance Coin [BNB] Reaches All-Time High, What’s on the Horizon?

Is an All-Time High for Binance Coin (BNB) Realistic?

The cryptocurrency market is extremely volatile in nature, with excessively high highs and very low lows. However, a slew of possible catalysts have lined up for BNB’s ascent. Binance’s Launchpool might provide a prominent impact. The firm further aims to offer Notcoin, a Web3 Telegram-related token that has been surfacing around the market lately.

Additionally, the Long/Short ratio on Coinglass demonstrates the dominance of long positions. The current ratio stands at 0.9778. This is further deemed as a bullish sentiment, as traders have been showing an inclination towards long positions.

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Also Read: Binance Coin Holds Above $700: Can BNB Hit a New ATH In June?

While the market can be uncertain, factors like these increase optimism around the market.