The Binance Exchange’s native cryptocurrency BNB is surging from recent lows as accumulation of the coin begins to climb. BNB has risen nearly 40% from its five-month low of $500, now trading at $669. The token is also outperforming the top 100 projects in the weekly charts at press time.

The recent BNB surge has plenty of potential catalysts, including recent market momentum and rumors about Binance selling most of its Bitcoin (BTC) and Ethereum (ETH) holdings to buy BNB. While that rumor turned out to be false, the news still brought attention to the Binance coin, sending its price up in the last few days. Whales and smaller investors are like are buying up the coin, anticipating a further climb and sending prices up.

Binance coin’s RSI at 62.22 signals strong bullish momentum, with room for more upside without being overbought. If this momentum continues, BNB’s next target could be its all-time high of $793.86. The token hit this high back in December 2024 when most cryptocurrencies were creeping towards new highs amid a market bull run. A similar run is expected to come in the next 2-3 months, led by Bitcoin and top altcoins. With BNB already on the rise before the altcoin season begins, this could mean even further surges for the coin once the season begins.

Also Read Shiba Inu: Whale Moves $4.8 Million SHIB From Binance

On the other hand, a BNB price drop below $685.55 could reverse the bullish trend. Binance’s native cryptocurrency is less than 20% away from breaching its ATH, and will need to avoid falling below $685 to keep those hopes alive. If the bulls fail to defend this support level, its price could drop to $610.98.

Fortunately, the market is largely bullish on BNB, and price predictions for the token are up. CoinCodex anticipates BNB to continue rallying over the coming months. The platform predicts BNB to breach the $800 mark on Apr. 6, 2025. The platform anticipates the asset to continue rallying to a new all-time high of $1048.90 on May 3, 2025. Hitting $1048.90 from current price levels will entail a rally of about 46.38%.