BNB Price Forms New All-Time High Above $800; Ends 7-Month Wait

BNBUSDT price reached $804 today after a 16% increase over the past week, marking a new ATH. The altcoin has successfully ended a long period of consolidation and now stands at $799.

Its recent price movements indicate strong upward momentum, suggesting the potential for further gains. For nearly seven weeks, BNBUSDT has seen consistent accumulation. This trend is reflected in the exchange net position change, which shows growing investor interest in the altcoin

The bullish market sentiment is helping BNBUSDT break through key resistance levels. If this momentum continues, BNB could reach the $850 mark, a psychological milestone for the altcoin. This level could attract more investors and provide further price support, pushing BNB higher in the coming days.

However, should BNB holders decide to secure profits, the altcoin could face a price pullback. If selling pressure intensifies, BNBUSDT may slip below its current support level of $741, which would invalidate the bullish outlook. A drop to this level would suggest a shift in sentiment, likely leading to a market correction.