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<p>The post <a href="https://coinpedia.org/news/breakout-alert-bnb-soars-5-eyes-on-600-level/" rel="noopener noreferrer nofollow">Breakout Alert! BNB Soars 5%, Eyes on $600 Level</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>On August 18, 2024, Binance’s native token BNB gained significant attention from investors and traders due to a notable price surge in this ongoing struggling market. According to a coinmarketcap, BNB has seen a price surge of over 5% in the last 24 hours.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bnb-outperformed-btc-and-eth"><strong>BNB Outperformed BTC and ETH</strong></h2>
<p>With this significant price surge, it has outperformed Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).</p>
<p>This massive <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" rel="noopener noreferrer nofollow">price surge in BNB</a> occurred following the breakout of the consolidation zone between $498 and $525. With this breakout, BNB has shifted to an uptrend as it is moving above the 200 Exponential Moving Average (EMA) on a daily time frame.&nbsp;</p>
<h2 class="wp-block-heading" id="h-bnb-price-prediction-nbsp"><strong>BNB Price Prediction&nbsp;</strong></h2>
<p>Based on the price action and technical analysis, following this breakout, there is a high chance that BNB could soar 10% to the $600 level in the coming days. However, this consolidation near the support level indicates a bullishness.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="449" src="https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-1024x449.png" alt="" class="wp-image-339765" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-1024x449.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-1536x673.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/18021823/BNBUSDT_2024-08-18_02-04-26.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
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</figure>
<p>At press time, <a href="https://coinmarketcap.com/currencies/bnb/" target="_blank" rel="noopener noreferrer nofollow">BNB</a> is trading near $545 and has experienced a price surge of over $5% in the last 24 hours. Meanwhile, its trading volume has declined by 3% during the same period, indicating lower participation from traders amid the struggling cryptocurrency market.</p>
<h2 class="wp-block-heading" id="h-bnb-s-open-interest-nbsp"><strong>BNB’s Open Interest&nbsp;</strong></h2>
<p>However, with this breakout, interest among traders and investors is gradually increasing. According to the on-chain analytic firm CoinGlass, BNB’s open interest increased by 8% in the last 24 hours, and by 2.5% and 4.6% in the last 1 hour and 4 hours respectively.</p>
<p>Amid BNB’s impressive price surge, other top cryptocurrencies including BTC, ETH, and SOL have experienced a price drop of 0.25%, 0.40%, and 0.69%, respectively in the last 24 hours.</p>

Breakout Alert! BNB Soars 5%, Eyes on $600 Level

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