Holders of the cryptocurrency “BNB” – the official currency of trading platform Binance – have plenty of reasons to celebrate.

As their bullish momentum has not stopped, it seems that the bulls are ready to send their prices higher without anything stopping them.

On April 6, the cryptocurrency closed at a new all-time high of $411.7.

This price represents a 9% increase, which has fallen to the 6% level in the last 24 hours.

The crypto market at the time of writing this article is facing some downward corrections that characterize the general Bitcoin trend.

The digital currency BNB and the challenge of staying above the $ 400 level:

BNB broke the $400 area yesterday, but that number is now the new barrier to overcome at this point in price discovery.

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In general, in the absence of prior support at this level, traders tend to focus on the round numbers to set their alerts.

The cryptocurrency BNB took off from the $368 level recorded yesterday, which in itself was a really good sign.

In the upward journey, the currency went through a minor correction, after which the currency continued its upward trend.

The “Fibonacci” extension warns of a possible rally to $454 before facing a possible strong resistance.

From there, the next targets will be near $482.

On the other hand, if the cryptocurrency eventually loses steam and corrects lower, the same Fibonacci retracement places a strong support at $368, which will simply undo the growth that BNB achieved on April 6.

It wouldn’t be considered a huge loss for swing traders but rather a reversal of gains in general.

The outlook for BNB digital currency looks good.

For now, the cryptocurrency has not overreacted to the volatility of Bitcoin and is sticking to its own pace.

While Bitcoin has struggled to break through the $60,000 barrier since mid-March, Binance has not stopped growing in the same time period.

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Bitcoin Bulls Struggling to Raise Price:

Bitcoin seemed unstoppable after starting an accelerating rally in the last quarter of 2020, breaking all the barriers that appeared in its path.

But then, after briefly crossing the $60,000 mark to hit an all-time high of $61,680, the major cryptocurrency started showing signs of fatigue.

After correcting and losing more than $10,000 in two weeks, Bitcoin was able to catch its breath and stabilize.

But it was not able to relaunch hard enough to break the $60,000 level.

This month, Bitcoin traded sideways, between lows around $56,800 and highs around $60,000.

Read:Banking giant BBVA launches bitcoin trading services in Switzerland

Currently, the long-term outlook is still bullish.

The cryptocurrency is still present within the channel it started after large institutional investments promoted by Micro Strategy, Tesla, Square and other big players.

Will Bitcoin soon be able to break the stubborn $60,000 resistance, soon?

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