BNB Price Targets $719 Following Successful Maxwell Upgrade
The BNB Smart Chain‘s recent Maxwell upgrade has set the stage for a potential price rally, with bulls eyeing the $719 mark. This technical enhancement promises faster block times, improved validator coordination, and smoother network performance, contributing to a bullish outlook for BNB.
Technical Analysis and Price Movements
BNB’s price action shows promising signs after breaking above a descending channel pattern and successfully retesting the breakout level. This movement suggests a shift in market sentiment, with the resistance line now acting as support. Key levels to watch include:
- $660
- $675
- $698
A breakthrough above $698 could pave the way to $732.
Market Sentiment and Future Outlook
The 20-day exponential moving average and the relative strength index indicate slight momentum in favor of the bulls. However, the market remains cautious. A drop below $643 may signal a retreat to $636. Always conduct personal research due to the inherent risks in the cryptocurrency market.
