Binance Coin continues to draw attention from traders as technical patterns hint at a potential breakout after weeks of consolidation.
The token, which remains one of the strongest performers among large-cap cryptocurrencies, is showing early signs of renewed accumulation, sparking discussion about whether a new bullish leg is imminent.
Analysts point to a tightening structure on shorter timeframes one often preceding strong directional moves, while long-term holders maintain confidence in the token’s resilience amid broader market uncertainty.
Bullish Pennant Pattern Points Toward Upside Potential
In a recent X post, analyst Henry highlighted the formation of a bullish pennant pattern on BNB’s 4-hour chart, indicating that the token may be gearing up for a powerful breakout. The pattern, defined by converging lower highs against a steady base, often signals continuation of an existing uptrend when confirmed by volume. According to Henry, the breakout target sits between $1,300 and $1,350, provided momentum continues to build.
Source: X
Henry emphasized his confidence in the coin’s long-term strength, noting that the token historically rebounds whenever sentiment turns bearish. “Every time shorts fade the asset, CZ lights that rocket again,” he wrote, referencing Binance CEO Changpeng Zhao’s influence on community confidence and the exchange’s pivotal role in market liquidity.
Market Data Shows BNB Holding Firm Amid Consolidation
According to data from Brave New Coin, the coin is currently priced at $1,073.26, with a market capitalization of $149.26 billion and a 24-hour trading volume of $3.06 billion. The token has shown remarkable stability despite recent volatility, slipping just 0.31% over the past 24 hours — a minor correction compared to broader market moves. This resilience highlights sustained investor interest in Binance Coin, even amid fluctuating market conditions.
Source: BraveNewCoin
The token’s price chart on Brave New Coin displays consistent attempts to reclaim higher levels following short-term dips. The asset has repeatedly found support near $1,050–$1,060, signaling strong buying activity at lower zones. Moreover, the volume data reflects continued market participation, suggesting that traders are actively positioning for a possible upward move.
Technical Indicators Signal Consolidation Before Next Move
At the time of writing, BNB/USD is trading near $1,069, following a retracement from its recent peak around $1,375 earlier this month. The TradingView chart shows the token consolidating after a sharp correction, with price movements narrowing between key support and resistance zones.
Indicators such as BBPower are currently flashing red, confirming fading momentum, while the Chaikin Money Flow (CMF) hovers close to zero, implying equilibrium between buying and selling pressure.
Source: TradingView
This technical balance suggests that the market is in a cooling-off phase after a strong rally, a period often preceding renewed volatility. Analysts are monitoring whether the asset can hold its mid-term support near $1,050, which would validate the bullish pennant structure highlighted by Henry. A rebound above $1,150–$1,200 could attract breakout traders targeting the $1,300–$1,350 region in the short term.