BNB is among today\u2019s market leaders after seeing a 5% surge in the past 24 hours. Amid its recent performance, the token is retesting key levels, leading some market watchers to forecast new highs could be around the corner.<\/p>\n
On Monday, BNB crowned itself as one of the best-performing tokens among<\/a> the top 100 cryptocurrencies after climbing back to a key level, attempting to break from its downtrend.<\/p>\n The token has retraced around 20% since hitting its all-time high (ATH) of $793 on December 5, 2024, losing the $700 support zone amid the Q1 market retraces. Since February, its price has hovered between the $500-$700 range, hitting a 6-month low in February.<\/p>\n During last Monday\u2019s correction, the cryptocurrency retested the range lows again, briefly touching $510 before bouncing. Nonetheless, the token has recovered 18% from last week\u2019s bottom, hitting a monthly high.<\/p>\n Notably, BNB attempted to reclaim the $600 level over the weekend, failing to hold it until Sunday night. The cryptocurrency surged 7.7% in the following hours, hitting $643 on Monday morning before retracing.<\/p>\n Crypto analyst Carl Runefelt pointed<\/a> out that after reclaiming the $600-$620 horizontal level, the token targets its three-month descending resistance line at around $650. According to Runefelt, the token has \u201call the chances\u201d to break this downtrend line once it \u201cgains some foothold\u201d above the recently reclaimed horizontal levels<\/p>\n Meanwhile, AMCryptoAlex highlighted<\/a> that BNB broke out of an inverse Head and Shoulders pattern following its performance. Alex also noted that the token surged above the $620 barrier, printing \u201cconsistent green candles above the crucial resistance level,\u201d which suggests that it is \u201cprimed for more upside.\u201d<\/p>\n Ted Pillows also affirmed<\/a> that BNB\u2019s chart looks promising, with a \u201cdouble-bottom pattern along with fundamentals getting better.\u201d<\/p>\nBNB Chain Surpasses Solana\u2019s DEX Volume<\/h2>\n