Binance Coin (BNB) has been on a bullish run despite the regulatory scrutiny that Binance has faced over the last several months. The token registered an impressive 13.7% price surge after almost reaching $600, and analysts predict that a new all-time high (ATH) might be coming in the next couple of months.
Is The Cost Clear For A New ATH?
As the crypto market rallies, Bitcoin continues to hit ATH after ATH, and altcoins’ prices keep regaining the levels of the previous bullish run. BNB has not been the exception; it surged over 13.7% in the last 24 hours and is near a crucial support level that could propel the token even higher during this cycle.
The price increase could be attributed to market dynamics and BTC’s performance. However, the recent announcement of ether.fi (ETHFI)’s introduction to the Binance Launchpool also seems to fuel the price since it will allow users to farm ETHFI by staking their BNB.
$BNB: This one goes to ATH easily and this was kind of obvious IMO. Expecting some sort of small pullback before all time highs but I think it breaks it soundly in the next few months pic.twitter.com/Ipt66lWKOH
— Altcoin Sherpa (@AltcoinSherpa) March 13, 2024
Crypto analyst Altcoin Sherpa shared his forecast for the token as the price was nearing $600. The analyst considers that, given the current BNB’s performances, the path to the previous ATH level is clear: “This one goes to ATH easily, and this was kind of obvious IMO.”
In the post, the analyst shared a chart that displays BNB’s performance since its ATH of $686.3, which is currently only 13.51% away. The token has registered mostly green candles every week since 2024 and only weekly green candles since February.
In the past month, BNB’s price went from oscillating between the $300-$320 price range to hovering between $520-$590, representing an increase of over 80%.
Despite the sunny forecast, Altcoin Sherpa doesn’t rule out cloudy days. The analyst expects pullbacks along the way but foresees BNB breaking the ATH “soundly” in the next couple of months.
Similarly, pseudonym crypto trader and analyst Captain Faibik highlighted that the token has gained over 120% since his ATH timeline prediction at the end of 2023. In late December, the trader forecasted that BNB would reach a new ATH in the first half of 2024, and the current performance seemingly reaffirms this stance.
BNB Price Performance
Despite the recent legal scrutiny faced by…
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