Despite the fall in BTC price, several of the largest altcoins by market value continue to see gains today. We recently touched on the current outlook for SOL Coin. Now let’s discuss the targets for BNB and AVAX. As this article is being prepared, BTC is struggling to surpass $70,000 again and is finding buyers at $69,900.
Binance Coin (BNB)
Supported by Binance, the largest exchange by trading volume and one of the largest cryptocurrencies by market value, BNB Coin never fell to its 2017 bull run price and has now climbed above $600. Last year, when the SEC filed a lawsuit against the Binance exchange, some experts were discussing targets below $100.
BNB Coin saw a daily peak of $645, with its all-time high being $691.8. Thus, BNB is now closer to its peak than ever before. It also recently moved its 2024 peak higher, reaching the region it saw at the end of 2021. So what’s next?
After a price drop to $527, the long lower wick showed that the bulls have not given up. Indeed, the current price confirms this. A breakout above $633 was expected and occurred recently, but at the time of writing, the price has fallen back to $618. At this stage, it is possible for BNB Coin bulls to keep the price above the broken $633 resistance and pull it into the ATH zone.
However, if the $527 level is lost, the journey to BNB Coin’s ATH could end, and there is potential for sales to continue down to $485.
Avalanche (AVAX)
Greeting Asian investors at a price of $58.2 as this article is being prepared, AVAX has finally started the expected movement, albeit late. Bulls remained strong at the $50 breakout region. Despite fluctuations in BTC’s price, bulls are fighting to maintain the hard-to-break key area and are now targeting higher levels.
If AVAX bulls can push the current price of $58.2 further and achieve closures above $59, movement towards targets of $87 and $100 could continue. Conversely, closures below $50 could lead to a drop to $40.
