The daily chart shows that the price of BNB has the necessary momentum to keep rising, potentially reaching $1,000. Its rebound is supported by the short and long-term moving averages.
The price of Binance Coin also invalidated the double top pattern at $860. This pattern usually leads to a bearish reversal over time. Therefore, overcoming it meant that the bulls prevailed.
The price of the BNB coin has formed a highly bullish cup and handle pattern, a common continuation signal. The distance between the high and the low is approximately 37%. Therefore, measuring from the top, its target is $1090.