BNB Eyes $650 as It Tracks Bitcoin’s Bullish Momentum

In Brief:

BNB surges 7% in 24 hours, breaking past key $619 resistance.

Strong BTC correlation (0.90) suggests BNB could ride Bitcoin’s rally.

MACD indicator nears a bullish crossover, signaling a trend reversal.

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Binance Coin (BNB) is showing signs of a strong recovery, currently trading at $621 after successfully flipping the $619 resistance into support. Analysts note that BNB’s high correlation (0.90) with Bitcoin could drive further gains if BTC holds above $100K.

Technical indicators also support the bullish outlook, with the MACD nearing a crossover, suggesting fading bearish momentum. If BNB continues upward, it could test resistance at $647, with $650 as the next major target. However, a failure to hold $619 could lead to a retracement toward $586 or lower.

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