BNB Hits All-Time High, Paving the Way to $1,000
BNB, the cryptocurrency of Binance, has reached a new all-time high, soaring to $787 after a 20% price increase. This surge not only set a new historical record for the asset but also broke through significant technical patterns, signaling the potential for further upward momentum.
Breaking Key Patterns and Forming a Golden Cross
Analysts believe this momentum could extend further, with the possibility of BNB hitting the ambitious $1,000 milestone, especially if the anticipated "altseason" materializes.
The golden cross occurs when the 50-day simple moving average (SMA) crosses above the 200-day SMA, signifying a shift from bearish to bullish market sentiment.
Reverse Head and Shoulders Breakout
According to analyst Ali Martinez, the breakout above the $680 resistance level triggered the rally, ending the prolonged bearish phase and setting a target price of $780.
With the current resistance around $800, breaking this level could lead to even higher price targets. Martinez projects that BNB could reach as high as $1,630 in the longer term if the bullish trend continues.
Aiming for $1.000 and Beyond
Analysts are closely monitoring BNB’s performance as it approaches critical resistance levels. If the cryptocurrency maintains its current momentum, the psychological milestone of $1,630 may soon be within reach, marking another significant achievement for Binance’s native token.
