Key Insights:
- BNB price jumped 2% this week, even after losing its grip on the key $1,000 level.
- After spending an extended period of time on a downswing, BNB carved out a major low near $864 before reclaiming $960.
- On the lower time frames, the Binance Coin appears to be shaping a clear head and shoulders pattern.
BNB price jumped 2% this week, even after losing its grip on the key $1,000 level. Technically, the outlook remains weak, but bulls are attempting to stabilize the price above $950 after a sharp recovery from $864.
However, unless demand returns soon, the current downtrend could deepen in the short term.
BNB Price Eyes Rebound Toward $1,050–$1,100
After spending an extended period of time on a downswing, BNB price carved out a major low near $864.
The price attracted new buying momentum after giving bulls a better discount to re-enter the market.
As such, the price of the Binance Coin rose steadily and now stabilizes near the $960 level. However, the price seems to be flattening around that level despite a weekly gain of 3%.
If buyers are not careful, selling pressure may pull down the price.
According to top analyst Bit_guru, as long as buyers continue to hold support, the setup looks constructive for a potential rebound toward the $1,050–$1,100 zone.
It is a region that could attract short-term profit-taking or fresh breakout interest.
In essence, BNB price is quietly building a base after a deep correction. If buyers maintain control above $950, the next leg higher could confirm the early stages of a broader recovery trend.
Binance Coin Displays Head and Shoulders Pattern on Lower Timeframe
BNB price appears to be shaping a clear head and shoulders pattern on the lower timeframe, a formation that often signals a short-term pullback.
The structure suggests that bullish momentum is losing steam, giving bears a window to test lower price levels.
Just below the current price action lies an unfilled Fair Value Gap (FVG), which tends to act like a magnet for price.
This imbalance, left behind from the previous rally, increases the likelihood of Binance coin revisiting that area before attempting any sustained recovery.
As per analysis by CryptosBatman, this setup is fascinating thanks to the potential retracement that aligns with the key Fibonacci retracement zone (0.618–0.786) and a bullish order block (OB).
However, the price could meet a strong confluence if it dips into this zone and therefore cause a rebound once fresh buyers step in.
BNB Price Setup Shows Potential Surge Toward $2,300
Binance Coin (BNB) appears to be setting up for another powerful leg higher, echoing a pattern that has played out multiple times in its history.
Each time the market formed a “break of structure” (BOS) followed by a strong consolidation phase, BNB launched into a massive rally, with the last one delivering a 242% gain.
Now, the setup looks strikingly similar. BNB price has broken structure once again and is stabilizing above key support around $700.
This level has become the line in the sand for buyers, firm, tested, and defended.
If history repeats, the next impulsive move could send BNB price surging toward the $2,300 region or higher.
The structure, momentum, and rhythm of this chart all align with the early stages of a parabolic expansion. It’s the same setup, the same energy, and potentially, the same explosive outcome.
BNB Needs Renewed Demand to Reclaim the $1,000 Level
In addition, the BNB Chain saw a noticeable slowdown in activity, with on-chain insights from BscScan showing daily transactions had fallen sharply, from 31.3 million on October 8 to just 16.6 million this Monday.
The dropping activity suggests fewer users are interacting with decentralized apps and tokens on the platform.
However, despite that, the technical indicators suggest that the crypto might witness a upward run in the coming days.