Key Insights:
- BNB pushes past $920, flipping $900 into support and putting the $1,000 psychological target in sight.
- Technical indicators show strong momentum as MACD turns bullish and Bollinger Bands confirm breakout strength.
- Traders view $900 support as crucial, with four-digit territory possible if buying pressure continues.
Binance Coin (BNB) was trading at $920.80 after gaining 3% in the past 24 hours and 8% over the week. Daily turnover has crossed $1.35 billion, showing strong activity around the token.
The uptrend started in early July near $641, with price forming higher lows and breaking through resistance zones. After weeks of consolidation between $820 and $830, BNB broke higher in September. The latest move has carried the token above $900, placing the $1,000 mark within reach.
Analysts React to the Breakout
Trader BitBull commented,
“$909 today 🔥 But the way this chart is building, four digits are only the beginning.”
The push near $930 has strengthened the view that BNB could continue higher if momentum holds.
Market watcher GGsOnly added, “$BNB JUST BROKE A NEW ATH!!!” The statement reflects optimism as $900 flips into a possible support level. Traders are now focused on whether the current rally extends toward $1,000.
Technical Indicators Confirm Strength
BNB has moved above the upper Bollinger Band at $908, showing firm momentum though conditions are nearing overbought. The 20-day simple moving average at $867 now serves as short-term support, while the lower band at $827 offers a fallback level.
The MACD also points to a bullish setup. The MACD line at 18.76 has crossed above the signal line at 15.41, with the histogram in positive territory. These readings indicate that buyers remain in control as long as price stays above key levels.
Market Outlook and Key Levels
The breakout has turned $900 into a support zone, making it a critical area to defend. Holding above this level strengthens the case for a move toward the psychological target of $1,000.
Community sentiment remains upbeat, with traders referring to BNB as the “mascot” of its ecosystem. The coming sessions will determine whether the token can build on this momentum and secure its place in four-digit territory.
BNB’s surge keeps it in focus, with markets watching closely for the next stage of the rally.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/bnb-price-explodes-to-909/