Key Insights:
- BNB is retesting the $1,085 breakout level, a key support for a potential bullish continuation.
- A breakout above $1,125 could open a path toward BNB’s previous high near $1,370.
- Target at $1,520 remains valid as long as BNB stays above the confirmed support zone.
Binance Coin (BNB) was trading around $1,089 at press time. The token has posted a 0.6% gain in the past 24 hours, while still down over 7% for the week. Trading volume sits near $3.38 billion. After a recent correction, market participants are closely watching price levels that may support a recovery.
Breakout Retest May Hold the Key
A chart shared by Javon Marks outlines a bullish continuation structure for BNB. The token recently broke above a key breakout level at $1,085.7 before pulling back to retest that zone. This level is now acting as support. As long as BNB maintains price action above this area, the chart points to a move toward the next target at $1,520.8.
Javon commented,
“BNB recently came down to retest the target at $1,085.7 and as long as prices hold above this level, the $1,520.8 level is in play.”
According to this projection, a rally from the current level could amount to a gain of approximately 27%. This aligns with a longer-term reversal structure that began after the downtrend was broken in mid-2022. Since then, BNB has posted higher lows and multiple breakouts, signaling continued buyer presence.
Local Resistance Holding Price Action
Short-term price action shows resistance near the $1,125 mark. Analysis from open4profit notes that BNB has repeatedly failed to break above a key resistance zone between $1,007 and $1,125. This range has acted as a ceiling since the price corrected from its local high above $1,300 earlier this month.
“Price is experiencing resistance and is unable to break this level,” open4profit stated.
They added,
“A break above this range could push the price towards the all-time high of $1,370.”
Until price clears $1,125 with strength, the short-term outlook remains neutral, with buyers and sellers testing each other at this key zone. A decisive breakout could trigger increased volume and momentum toward the $1,300–$1,520 area.
Price Outlook Remains Data-Driven
BNB was currently trading near a support-retest region that aligns with earlier breakout levels. The structure supports a possible continuation if buyers maintain pressure. However, without a clear break above short-term resistance, the price remains within a consolidation zone.
The broader trend remains intact as long as BNB stays above $1,085. Analysts continue to monitor both price and volume around these levels for confirmation of the next major move.
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Source: https://coincu.com/analysis/bnb-holds-key-supportis-a-1-5k-surge/