- Binance Coin is currently trading at $892.82 with $2.92 billion volume and $122.97 billion market capitalization.
- Major support is seen between $700-$550, and failure could trigger a trend shift to $250-$170.
- Recovery of $900 and double bottom around $790-$800, BNB could reach $1,000.
Binance Coin (BNB) is showing signs of a key turning point as it trades near $893, reclaiming the $900 level after forming a strong double-bottom around $790–$800. Observers of the market claim that the “decision zone” may decide the next movement of BNB, whether it will break above $1,000 or undergo a major trend reversal.
Currently, Binance Coin is trading at $892.82, with a trading volume of $2.92 billion within the last 24 hours, along with a market cap of $122.97 billion, with a market dominance of 3.89%. During the last 24 hours, BNB has shown a very minor increase of 0.15%.
Binance Coin Approaches Key Support
According to recent post by Crypto Patel, it appears that BNB is currently on the strongest support level of the cycle on the higher time frames, ranging between $700 and $550. If it holds on, the rally targets $1,500, $2,000, $2,500, and $3,000.
However, Patel also explains that the failure of the price to maintain above this level could trigger the chart for BNB to reset to the range of $250-$170. Investors are closely watching this “true decision zone” to gauge whether BNB will resume its uptrend or face a full trend reset.
Also Read | XRP Weekly Chart Signals Tight Consolidation Ahead of Wave 3 Target
BNB Forms Double-Bottom Near $790–$800
Recent price action shows BNB forming a clean double-bottom around the $790–$800 range, a key demand zone that has attracted buyers back into the market. The token has also regained support above the $900 level, which was acting as a resistance level and can now become an important level of support.
If the $900-$905 level of support holds, the price of BNB will continue rising toward $950, and it also has the potential of reaching $1,000. But if it breaks below $880, then the bullish analysis will be negated, and it will hit lower levels.
For investors, this area is the critical zone, where BNB is either on the path for the next leg up or ready for the next trend reset.
Also Read | NEAR’s December Momentum: Bulls Hope for a Solid 2025 Finish
