Key takeaways:
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BNB faces short -term correction risks but maintains a strong bullish structure above the trend.
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Breakout and Onchain Optimism Point patterns at the reversed targets of $ 1,250- $ 1,565 by the end of the year.
Bnb (Bnb) has jumped more than 10% this weekend, exceeding a large stationary crypto market that has remained flat.
With momentum variety from its peers and price discovery, the question is, can the token associated with Binance be higher?
BNB faced “overbought” risks in September
BNB’s latest rally pushed to Relative Strength Index (RSI) In the four -hour chart in excess territory, to raise the risk of a short -term pullback. The token slipped 2.89% from a record of $ 1,083.50 established earlier today.
A correction toward the 20-4h exponential transfer of average (20-4h EMA; the green wave) near $ 1,012 looks more likely in the coming days, if the recent overbought rejection is any indication. This short -term target is further aligned with 0.236 fib retracement.
BNB’s denial can expand towards 50-4H EMA around $ 974, a level that provides reliable trend support, if the sale of pressure deepens next week.
BNB prices can reach $ 1,150 in October
For the analyst Have a bile.
He said in his Sunday post:
“BNB broke the 1000 mark and set a new high to 1074 before arranging near the support of 987 to 990. The trading volume hits 3.28 billion during the move, and the momentum remains strong with a long short ratio of 17.71, showing bullish positioning.”
The $ 970 price floor also serves as a lower trend of the broader pattern of the BNB channel, as shown below.
Since June, each retest of the lower trendline has a history that has triggered a 20-35% rebound towards the top of the channel.
A fractal pattern repetition will see the BNB break above $ 1,150 in October, up to 10% from the current levels, although prices will first re -re -ree to $ 970 in the coming days.
The target end of the year BNB is $ 1,250 or higher
Looking back, BNB is set up for a potential rally by the end of the year, fueling by its breakout from a long-term cup-and-handle formation.
The price removed the 1.618 Fibonacci extension near $ 1,037, supporting it with support. Its reversal targets appeared at $ 1,250, measured from the cup-and-handle breakout, and the 2.618 fib line around $ 1,565, if held by momentum.
This setup reflects the 2,650% BNB rally following the upward triangle breakout in 2020–2021.
Related: ‘Diamond Hand ‘investor turns $ 1k to $ 1m while BNB leads to $ 1,000
BNB Onchain data leaning on bullish
Net unaware of income/loss of BNB (NUPL) metric returned to the optimism -anxiety zone, a level last seen during the 2020–2021 bull rallly that preceded running from under $ 50 to more than $ 600.
The current emotion suggests the holders are leaning against the optimistic, often a sign of mid-cycle strength. With both BNB technical and fundamentals that look strong, BNB can enter the most bullish phase of the cycle, even though short-term corrections occur.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
