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Binance Coin (BNB) has maintained strong performance despite facing significant market turbulence and ongoing challenges for its parent company, Binance. The cryptocurrency market has been volatile, and Binance itself has encountered multiple legal and regulatory hurdles across various countries.

Binance is currently embroiled in several lawsuits and has faced substantial regulatory pushback globally. A notable recent development includes Binance CEO Changpeng Zhao (CZ) stepping down from his position. Additionally, the U.S. Securities and Exchange Commission (SEC) imposed a hefty $4.3 billion fine on Binance, marking one of the major setbacks for the company.

Despite these formidable obstacles, Binance Coin (BNB) has shown remarkable stability. The coin has not only avoided a downturn but has also demonstrated resilience in the market. From March 11th to May 28th, BNB has traded consistently within the range of $500 to $650. This stability is now setting the stage for a potential bullish breakout.

As of the latest data, the price of Binance Coin stands at $604.36, with a 24-hour trading volume of $1.24 billion and a market capitalization of $89.19 billion. Over the past 24 hours, the BNB price has seen a modest increase of 0.57%, reflecting investor confidence in the coin’s strength and potential for future gains.

BNB Set to Break All time-High, Says Analyst 

In a recent analysis, prominent crypto analyst Crypto Scient expressed an optimistic outlook on the price trajectory of Binance Coin. Despite the pervasive fear, uncertainty, and doubt (FUD) and the overall bearish sentiment that dominated the market last year, BNB stood out as a high-liquidity altcoin with virtually no drawdowns, making it a reliable asset to hold.

Crypto Scient pointed out the resiliency and stability of BNB’s performance throughout the market turbulence. He further said that such steady liquidity, and no significant price droop, were making it a standard choice for investors. Furthermore, Crypto Scient pointed to the emergence of various coins on the Binance Launchpad and Launchpool as a positive indicator for BNB’s future performance. 

He added that this wave of success and popularity that these new projects are having can drive a bullish trend of BNB, which may lead it to break its all-time high (ATH) and exchange all the way to highs. To support his forecast, Crypto Scient has used Fibonacci retracement levels as potential targets for the price discovery of BNB.

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