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BNB Sets a New ATH at $411.7 While Bitcoin Fails To Break Past $60.000

The hodlers of BNB, Binance’s official cryptocurrency, have plenty of reasons to celebrate. Its upward momentum is not stopping, and it seems that the bulls are ready to send the token prices to the moon with nothing to stop them.
The cryptocurrency closed on April 6 with a new all-time high at $411.7. That price represents a 9% increase for the day. Not bad considering that the rest of the markets gave mixed signals, with some downward corrections marked by Bitcoin’s general trend.
BNB Is On Its Way To Conquer the $400 Price Zone
BNB broke the $400 zone yesterday, but the number is now the new barrier to overcome in this stage of price discovery. Generally, in the absence of previous references, traders tend to focus on round numbers to set their alerts.
BNB started the day at the $368 mark, which in itself was already a good sign. The previous day it went through a small correction. This bullish breakout simply confirmed the bull trend wasn’t over. BNB had previously posted a 5% drop that kept analysts on tenterhooks as the cryptocurrency was heavily overbought.
The Fibonacci extension portends a possible rise to $454 before encountering possible strong resistance. From there, the next frontier would be near $482.
On the other hand, if the cryptocurrency were to eventually lose strength and correct lower, the same Fibonacci retracement places strong support at the $368 area, which would simply undo the growth it had on April 6. This is generally taken as a good sign as it would …
Story continues on Crypto Potato

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