Binance is the number one cryptocurrency broker in the world and BNB is one of the best performing Layer 1 coins currently up 92% compared to 71% for Bitcoin.
BNB made new all time highs back in June 2024 marking wave ((3)) and it did pullback in 3 waves within wave ((4)) in August 2024. Since then, the coin started a new cycle to the upside within wave ((5)). The rally is currently showing an incomplete bullish sequence from 8/5 low and still expected to see more upside at least toward equal legs area at $666. As long as short term pullback stays above 10/3 low $534, then the next push higher will turn the structure into a bullish 5 swings advance which will support more extension to the upside.
The break into new all time highs will open new targets to the upside at equal legs area $888 - $1025 and from there BNB could be looking to end the entire rally from 2022 low. It's recommended to only look for buying opportunity within daily pullback in 3 , 7 or 11 swings.
BNB Daily Chart 10.30.2024
Source: https://elliottwave-forecast.com/cryptos/binance-coin-bnb-new-time-highs/
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