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BNB Price Analysis & Forecast (June 6): Binance Coin Surges 20% to Reach Record High, Could $1k Be the Next Bullish Goal?

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Analysis and Forecast for Binance Coin (BNB) Price Movement

Binance Coin (BNB) has finally broken out of its two-month accumulation phase with an impressive gain in just a week. The cryptocurrency surged to a new high of $716 before retracing slightly to $696, showing a strong bullish sentiment in the market.

Last month, BNB successfully broke above the key $600 level but struggled to maintain momentum, leading to a brief retracement below $587. However, the coin rebounded and surged through March’s $645 resistance to reach its current high.

Analysts are now closely watching the key resistance levels of $716, $730, and $760, with the long-term target set at $1,000. While the hourly support is being tested at $692, investors should keep an eye on key support levels at $669, $640, and $631.4.

The trend for BNB is currently bullish, with high volatility expected in the coming days. Traders are advised to conduct their research before investing in any cryptocurrency or services.

For the latest updates on Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news, follow us on Twitter @nulltxnews.

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