BNB's price shows significant bullish momentum on the weekly chart, with technical signals indicating it could soar to $1,000. This altcoin has not only broken through resistance levels but is also maintaining strength above the 50-week exponential moving average (EMA).
BNB price is set to soar to $1,000.
With increasing momentum, Binance Coin (BNB) price could surge significantly to $1,000, far exceeding its historical high. This prediction was published in an analysis report by TradingView cryptocurrency expert Unichartz, which noted that BNB's price trend has broken through a long-standing downward resistance line, as indicated by the red line in the chart.
Breaking through this downward trend marks the end of a consolidation phase lasting several months and may signal an impending trend reversal. More importantly, this cryptocurrency has reclaimed the historical support-resistance zone (the shaded gray area around $460-535), which was previously a 'battlefield for bulls and bears.' This key level is now becoming a potential launchpad for further upward movement, reinforcing BNB's bullish structure.
Looking ahead, the 50-day moving average (EMA) highlighted by the orange line in the chart repeatedly acts as dynamic support for BNB's price during pullbacks. TradingView analysts revealed that BNB has bounced multiple times from this moving average, confirming its reliability as a potential rebound foundation.
As long as the price continues to trade above the 50-day moving average and remains within the retracement zone, Unichartz is still optimistic about BNB's outlook. Driven by sustained bullish momentum, BNB is likely to retest the historical high around $793. If it successfully breaks above this level, it could trigger a 45.99% rise, approaching the psychological barrier of $1,000.
BNB bulls are in control, and prices are expected to break through.
Market analyst Wise Crypto has made a bullish prediction for BNB's price, expecting this altcoin to experience a significant breakout and soon surpass $700. According to the analyst, multiple technical indicators and bullish trends support this expected price increase.
From a technical perspective, Wise Crypto points out that indicators such as EMA, DMI, and Ichimoku Clouds are all showing bullish signals. From a fundamental perspective, the analyst emphasized the growth of Binance Coin's decentralized exchange (DEX) trading volume.
It is worth noting that BNB's DEX trading volume surged by 85.66% in a week, with a volume increase of approximately $34.85 billion, far exceeding its main competitors Ethereum and Solana.
Moreover, Wise Crypto announced that BNB bulls have finally taken the lead, and the market trend shows strong momentum. With positive technical indicators and increasing DEX trading volume, BNB's price is expected to rise approximately 2.21% from the current $684.85, reaching $700 in the short term.
