Key Takeaways:
BNB price jumps 2.93% in 24h, outpacing crypto market’s 0.97% gain
New all-time high at $994 follows breakout above key $942 resistance level
Market analysts and investors now watch $1000 level
BNB Breaks Key Resistance as Momentum Builds
BNB broke out above the $942 resistance level on September 14, triggering a wave of algorithmic and retail buying. The CMC RSI (24h) hit 76.17, indicating overbought conditions but also high buying pressure.
The breakout caps a multi-day pattern of higher lows, which reflected underlying accumulation. Analysts note that a sustained close above $993.13 could open the door to $1,040, the next Fibonacci extension target.
Institutional Confidence
In early September, CEA Industries Inc. (Nasdaq: BNC) announced the purchase of an additional 30,000 BNB ($26M USD) tokens, bringing its total holdings to 418,888 BNB ($368M USD) and reinforcing its position as the world’s largest corporate BNB treasury.
Earlier in July, Nano Labs purchased $90 million in BNB, stating its plan to stockpile $1 billion in BNB.
BNB Outlook: Can it break $1,000?
With BNB less than 1% away from the key psychological level of $1,000, traders are watching the following levels closely:
A close above $993.13 could confirm continuation toward $1,040.
A dip below $977 (pivot level) may trigger short-term profit-taking.
