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

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.

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.

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.