Binance Coin Price Targets $1,000 Amid Altseason Speculation
The total crypto market cap is $3.16 trillion, with Bitcoin hovering around $96,000. Altcoins have increased by nearly 5% recently.
Key points on BNB Coin:
- BNB price rose nearly 10% last week, showing a rising channel pattern.
- Current trading price is $672, down 8% from a 7-day high of $732.
- Potential resistance at $770 and all-time high at $793; optimistic targets could reach $1,000 in 2025.
- Support level near $600.
Indicators for potential altcoin season include:
- A bullish crossover between the 100-week and 200-week moving averages of the total crypto market cap excluding Bitcoin.
- The altcoin market currently near $1.2 trillion, with historical peaks possible.
- Bitcoin's dominance is at a high supply zone while Ethereum shows weakness against Bitcoin.
Market sentiment indicates an upcoming alt-season as Bitcoin cools off and altcoins prepare for growth.