The recent dismissal of the SEC’s lawsuit against Binance has bolstered the prospect of widespread adoption for Binance Coin (BNB). This pivotal moment comes as BNB appears poised for a significant rally within the context of an anticipated altseason in 2025. The altcoin market, spearheaded by Ethereum and BNB, is gaining strength against Bitcoin, whose market dominance is facing resistance at around 65 percent. This scenario hints at a potential reversal that could signal the beginning of the 2025 altseason.
BNB has benefitted from its strong fundamentals as the native token of the Binance ecosystem. The SEC’s case closure not only bodes well for BNB but is also expected to positively impact the broader cryptocurrency market. Furthermore, BNB serves as a critical liquidity source for many tokens on the Binance Smart Chain (BSC).
Currently, BNB price has been consolidating between $512 and $723 since March 2024. On shorter timeframes, BNB seems to be gathering bullish momentum, forming a bullish flag pattern following the resolution of the previous quarter's market correction. A sustained price close above $691 over the next few days could trigger a rally past $790. Conversely, a drop below the support level of $648 may indicate bearish pressure with the next significant target around $635.
BNB has benefitted from its strong fundamentals as the native token of the Binance ecosystem. The SEC’s case closure not only bodes well for BNB but is also expected to positively impact the broader cryptocurrency market. Furthermore, BNB serves as a critical liquidity source for many tokens on the Binance Smart Chain (BSC).
Currently, BNB price has been consolidating between $512 and $723 since March 2024. On shorter timeframes, BNB seems to be gathering bullish momentum, forming a bullish flag pattern following the resolution of the previous quarter's market correction. A sustained price close above $691 over the next few days could trigger a rally past $790. Conversely, a drop below the support level of $648 may indicate bearish pressure with the next significant target around $635.
