Binance Coin Surges Toward $1000 as Institutional Demand Rises

Binance Coin (BNB) is holding strong after a $940 breakout, supported by growing institutional demand and a bullish technical setup.

The daily chart shows price action above the 0.786 Fibonacci level at $931, with the RSI near 70, indicating strong momentum without entering overbought territory. Key support levels remain firm at $875 and $836, reinforcing a solid uptrend from the $670 low and signaling sustained buyer interest.

Analysts highlight that Nano Labs’ $90 million purchase, combined with rising trading volume and higher moving averages, is powering the next leg upward. With Binance now trading around $933, market participants are closely watching the $1,000 psychological mark and the $1,001 Fibonacci extension as the next critical resistance levels.

BNB Extends Breakout Above $940

Binance Coin continued its upward movement after breaking the $940 resistance on strong trading volume. The daily chart shows the token holding above the 0.786 Fibonacci retracement level at $931, supported by an RSI reading near 70. This level indicates sustained strength without entering overbought territory. The latest advance follows a climb from the $670 low with repeated successful retests of supports at $875 and $836.

Market data reflects steady momentum behind this breakout. Intraday price action started near $925 and moved toward $940 before a brief correction and rebound. Despite short pullbacks, the asset maintained higher lows through the session, signaling steady buying interest and strengthening the current uptrend.

Institutional Purchases Support Price Gains

Analyst Tom Tucker reported that its rise has been supported by Nano Labs’ $90 million purchase, combined with broader institutional demand. These inflows are adding liquidity and reinforcing market confidence as it approaches the $1,000 psychological level, now a key point of focus for market participants.

BNBUSD Chart | Source:x

As Binance Coin competes with Solana for the fifth position in global cryptocurrency market capitalization, institutional accumulation plays an important role in sustaining momentum. The sustained buying interest has added weight to the move above $940, which now acts as immediate support in the ongoing rally.

Technical Indicators Point to Continued Uptrend

According to Crypto King.eth.sol on X, the 4-hour chart shows price trading near $930.76 after reaching $931.47. A strong uptrend from the recent $829.59 low is confirmed by the alignment of short-term moving averages. The 7-period moving average is near $920.75, and the 25-period moving average is around $899.03, with both trending higher.

BNBUSD Chart | Source:x

Trading volume reached 16,508, supporting the positive trend. Analysts note that maintaining levels above $920 keeps focus on the next resistance zone near $1,000. The next Fibonacci extension is located near $1,001, which could become a near-term technical target if the current momentum persists.

Market Metrics Reflect Strong Participation

At the latest reading, the token traded around $933.42, posting a 0.62% gain in 24 hours. Market capitalization stood at $129.87 billion, while 24-hour trading volume totaled $1.62 billion. Available supply remained at 139.18 million.

BNBUSD 24-Hr Chart | Source: BraveNewCoin

The 24-hour chart displayed several intraday swings between $930 and $940, with volume peaking during the morning rally and then easing as the price consolidated. Despite these fluctuations, a strong buyer presence kept price action within an upper range. The combination of firm support and rising participation has kept the token in a clear upward trajectory.