BNB is showing significant bullish strength on the weekly chart, with technical signals pointing to the possibility of a surge to $1,000. This altcoin has not only broken through resistance but is now maintaining a solid position above the 50-week Exponential Moving Average (EMA).

BNB Price Set to Rise to $1,000

With this growth momentum, Binance Coin (BNB) may be preparing for a significant price surge up to $1,000, pushing the price much higher than its all-time high. This forecast, published in the analysis report by cryptocurrency expert TradingView Unichartz, notes that the price action of BNB has surpassed a long-standing descending resistance line, indicated by the red line on the chart.

The breakout from this downtrend signals the end of a prolonged consolidation phase and the potential for a trend reversal. Notably, the cryptocurrency has reclaimed the historical support-resistance zone marked in the faded gray area around the range of $460 – $535, which previously served as a "battleground for buyers and sellers." This critical level is now acting as a potential launchpad for the next bullish moves, reinforcing the bullish structure of the BNB chart.

Moving forward, the 50 EMA, highlighted by the orange line on the chart, has repeatedly acted as dynamic support for BNB price during pullbacks. The TradingView analyst has revealed that on multiple occasions, BNB has bounced off this moving average, confirming it as a reliable foundation for potential bullish moves.

As long as the price continues to trade above this 50 EMA line and within the recovery zone, Unichartz's outlook for BNB remains optimistic. With sustainable bullish momentum, the likelihood of a retest of the all-time high around $793 is very high. A successful breakout above this level could trigger a 45.99% increase towards the psychological mark of $1,000.

BNB Bulls Take Control as Price Approaches New Breakout

Market analyst Wise Crypto has provided a bullish price forecast for BNB, predicting a major breakout that could see this altcoin surge above $700 soon. According to the analyst, several technical indicators and bullish trends are aligning favorably for this anticipated price surge.

Technically, Wise Crypto points out indicators such as EMA, DMI, and Ichimoku Clouds flashing bullish signals. Fundamentally, the analyst emphasizes the increasing trading volume of Binance Coin on Decentralized Exchanges (DEX).

Notably, the DEX trading volume of BNB has skyrocketed with an impressive increase of 85.66% in just one week. The DEX trading volume has risen by approximately $34.85 billion, far surpassing major competitors such as Ethereum and Solana.

Furthermore, Wise Crypto has stated that BNB buyers have ultimately taken control, with market trends indicating strength. Supported by positive technical indicators and increasing DEX volume, BNB's price is expected to rise approximately 2.21% from its current price of $684.85 to reach $700 in the near future.