BNB price surge continues as it inches closer to the $600 price point, which represents a strong resistance. This token has been traversing the range between $575 and $591 in the last week. The Binance coin price surge has been ongoing since April 13, and today, this token has not broken the streak. However, we saw some significant spikes on April 17 and 18. Today, April 19, the altcoin crypto market has remained positive, and BNB has also seen a 0.80% increase. Increase. Additionally, the technical indicators also point to a bullish BNB price prediction.
Binance Coin Price Shows Resilience Amid Market Turmoil
Based on an X post by CryptoQuant, the Binance Coin price has been showing significant resilience. The price performance of BNB was compared to that of other cryptocurrencies, reaching this result. Based on the data provided, BNB and Bitcoin have shown the least decrease in value among cryptocurrencies. As mentioned, many coins have experienced severe falls in value as the trade war became more serious. As news about American tariffs and retaliations from other countries came out, prices dropped multiple times. Consequently, it is reported that some coins fell nearly 90% from their peaks.
João Wedson, the CryptoQuant author’s statement was also mentioned in the X post. .“While most altcoins have suffered drops of up to -98.5% from their all-time highs, BNB stands out alongside Bitcoin (BTC) as one of the least affected cryptocurrencies.” Additionally, it is important to mention that the BNB price surged to a new all-time high. As such, with its remarkable place in the altcoin market, the Binance Coin price seems to be climbing even higher. Compared to this coin, there have been other altcoins that have had a higher percentage of growth; however, they have fallen hard as well.
Why Binance Coin (BNB) Shows Greater Price Stability?
Dogecoin, Polygon, and Cardano are three examples of altcoins that have reached impressive highs. However, these coins have also fallen very sharply after hitting such highs, usually seeing a big correction or smaller correction until they stabilize again. Although these coins have a dedicated enthusiast and community base, they always rebound. Some smaller altcoins that have not been able to create such a community are CAKE, COMP, and DASH. These have experienced the biggest crashes in value as they usually don’t have any support system.
Does the Binance Ecosystem Contribute to BNB’s Stability?
Based on the report, such stability and resilience come from the numerous utilities this coin provides. The Binance ecosystem relies on this currency to power various functions. For example, transactions, exchanges, and trading fees are all paid in Binance coins. As such, Binance users constantly swap other currencies for BNB, always keeping the demand high. As such, the stability of the Binance coin can be partially attributed to the ecosystem and the currency’s integration. Moreover, the technical price prediction of this coin is also bullish, as signals show a positive trajectory.
Is BNB Price Set to Soar Higher Despite Bearish RSI?
The RSI for BNB price action is closing in on 50 points and is climbing, which shows that the bullish momentum is increasing. However, currently, the RSI is at 45, which is more on the bearish side. However, with the current circumstances of global economics, the price of BNB is set to go higher. As the US government has now announced a 90-day pause on all tariff,s the trade war is over, and the markets can recover.
Source: Coinfomania / Digpu NewsTex