Prices of Tron (TRX) & BinanceCoin (BNB) Just Hit A New ATH—Which Coin is Next?
The post Prices of Tron (TRX) & BinanceCoin (BNB) Just Hit A New ATH—Which Coin is Next? appeared first on Coinpedia Fintech News
The Bitcoin price continues to juggle around the narrow range, paving the way for the other altcoins to grow. While the large-cap tokens are gaining more attention, the tokens within the top 10 have been performing exceptionally in the past few days. BinanceCoin (BNB), which usually scales up without making any noise, has just smashed new highs at $773.26, while Tron (TRX) demonstrated a monstrous rally of over 100% jump to surpass the 6-year-old high to reach $0.44.
Now that the tokens have entered the discovery phase, the next course of action could be extremely bullish.
BinanceCoin (BNB) Clears Path to $1000
The BNB Price has launched a massive bullish attack and is on the verge of demonstrating a 2021-like move soon. The technicals are mirroring the bull run pattern, suggesting the price could be due for a 100% rally to reach $1000 in a short while. However, the bearish activity is expected to rise, which could slow down the pace, but the bulls appear to be self-assured of pushing the price towards a 4-digit level.
The BNB price broke above the final resistance wall around $700 and marked a 20% rise to reach new highs. However, the rally does not appear to stop here, as the technicals suggest the price has just started to rise. The MACD shows the rise in the buying pressure while remaining within the positive range. Besides, the RSI is about to enter the overbought zone, which could trigger a 100% move to reach a 4-digit figure in the first few weeks of 2025.
Tron (TRX) Price Eyes to Reach $1
The Tron price surged gigantically by over 100% in just a few hours, pushing it towards a new ATH at $0.44. The prime reason is an increase in liquidity with a surge in Tether minting new USDT across Ethereum & Tron networks. As a result, the token’s trading volume surged over 500%, making it the 4th largest traded asset for the day after USDT, BTC, and ETH & XRP.
The bulls appear to have gained huge strength, but the current trade setup suggests there could be some scope for a pullback. The price is testing the upper resistance of the rising wedge and if it breaks out, the price will surge to $0.7 and face a retracement to $0.5 followed by a rebound to $1. However, the monthly RSI has reached above 91, suggesting a relaxation phase may soon begin. This could keep the price consolidated within the wedge until it reaches the apex and later breakout beyond $1.
