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How high can Binance Coin go this cycle?
The exchange of the largest centralized stock exchange could push by $ 1500 and even focus on $ 2,000 as favorable conditions for Bitcoin and the market will prevail in the coming months.
Can traders and investors expect a price dip to buy more?
In the case of a pullback, the $ 950- $ 1,000 area would be the first demand zone and $ 800 the next support level to keep an eye on.
Binance currency [BNB] Made a new highlight of $ 1,079 on September 21. Exchange would probably switch to the price target of $ 1,187, the next Fibonacci extension level.
Source: Coinglass
In the short term, the levels of $ 1,040 and $ 1,000 were possible goals that the price could fall in search of liquidity. However, the magnetic zone that was built just below $ 1,100 was closer and closer.
That is why it is likely that the next 24-48 hours will see a push and new Aths.
BNB price forecast in the long term
Source: BNB/USDT on TradingView
On the 1-day graph, the structure and momentum of Binance-Munt were strong bullish.
The exchange was in the price -discovery mode and with Bitcoin [BTC] Only at $ 115k and not overheated onchain signals, BNB may have more room to grow.
The weekly graph emphasized the power of token since July. The level of $ 740 had been a strong resistance at that time and was in force since November 2024.
In July BNB broke past this resistance and left a real value gap or imbalance, which is emphasized by the white box.
After the outbreak, BNB withdrew to test the upper part of the real value gap and bounded higher in August.
This was a very positive sign for investors because it emphasized the buyer’s dominance. The advancing averages and the great oscillator showed that the momentum on the weekly period was firm bullish.
Source: BNB/USDT on TradingView
When examining the rally in the previous cycle short, we can see that BNB saw almost 18 months of accumulation below $ 40. At the beginning of 2021, Binance Coin exploded higher and reached $ 280 and eventually the cycle high of $ 691.
This has a few parallels with the 8-month accumulation BNB SEW SEW under $ 750, but market capitalization is now much larger. Although the movements may not be that explosively large or fast, they can surprise investors.
That is why it may not be a good idea for holders, try to call the top until Bitcoin warms up onchain statistics.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
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