- Binance Coin (BNB) maintains strong momentum, closing above its Bollinger Band with weekly gains.
- Market structure shows higher highs and higher lows, confirming the breakout from its long 2024 range.
- Resistance around $900–$912 is critical as BNB aims for the next target of $1,028.
Binance Coin (BNB) ended the week at $879.6, marking a 2.8% rise within a trading range of $818.9 to $900.9. The token managed to close above the upper Bollinger Band at $871.7, a signal of strength rather than a temporary spike. The 20-week basis line at $691.2 continues to rise, suggesting a healthy long-term trend.
Momentum indicators reflect the same bullish outlook. The relative strength index (RSI 14) stands at 68.3, close to the overbought line but still within a favorable range. Money flow is strong, with the Chaikin Oscillator showing +133K, reinforcing steady accumulation from buyers.
Rose Premium Signals, a well-followed crypto market commentator, highlighted that BNB has already hit its second target of $899 after moving past the ascending channel. The first milestone at $768 had been cleared earlier. According to the update, the next objective is $1,028, with bullish momentum expected to remain intact if support levels hold.
BNB Breaks Multi-Month Consolidation
BNB has broken out of the multi-month 2024 consolidation, registering a series of higher lows and higher highs on the weekly chart. The breakout region of $750-$800 has become a robust demand shelf, which has become the foundation of more up-moves.
Right away, resistance is at its position of $900 through $912, while the Fibonacci 1.618 level at $912.6 supports the resistance barrier. Should momentum persist, the next test station is at $950 ahead of the psychological $1,000 threshold. The longer-term extension, applying Fibonacci extensions, sets out aspirational targets at $1,296 and $1,414.
Support is held at $871–$880 and $830–$840. Further fallback could visit $800, while $750–$760 is still structural support. Breakdown below this area may trigger a retest of the 20-week mean at $691, but the main uptrend is secure while above $750.
Scenarios for the Coming Weeks
If Binance Coin remains above $880–$900 and crosses above $912, the path is clear to $950 and $1,000–$1,104. Or, alternatively, the RSI chart will develop a sideways band of $840–$900, which will temper the RSI down before the next move up. The lesser favorable result comes if BNB closes below $871, which could push down the price into $830–$840 or even into $800. But so long as it’s above $750, the big picture of the bullish pattern remains intact.
Also Read: Binance Coin (BNB) Gains Momentum With Growing Hopes of a $1,000 Breakout
