- Binance coin broke out from a cup-and-handle pattern, targeting $1,118, $1,316, and potentially $1,500.
- Weekly closes above $921 may confirm bullish momentum and validate higher Fibonacci targets.
- Strong support holds at $798 and $647, backed by an ascending trendline from mid-2023.
Binance coin is moving well as it prepares to have a huge breakout and the bullish trends indicate the possibility of a significant rise to $1,500. The price has been strong above key support levels following a cup-and-handle formation which is an indication of renewed buyer confidence. Higher lows are being built and Fibonacci targets are falling into place, so all the eyes are on the $921 resistance. The prolonged breakout would trigger a strong rally making BNB poised to skyrocket the following weeks.
Binance Coin Price Eyes $1,500 as Cup-and-Handle Breakout Strengthens
The BNB price has been consolidating and it broke out of a cup and handle structure and the current value is at $896. The extensions of the Fibonacci point out that the initial efficient resistance is at 921, and clearing it will lead to 1,118 and 1,316 in the next few weeks.
More than these, a continuation of the rally may flow up to the level of $1,438 and forecasts may even run up to the psychological limit of $1,500. But in case buyers are unable to protect the $798 zone, a further pullback to the more solid level of 647 is probable and then high demand can be rejuvenated once again.
The price chart of Binance Coin is encouraging since it continues to record higher lows, which is a sign of underrated strength in the face of the occasional volatility. Weekly highs of 921 and above would serve as a point of confirmation to the bulls and would solidify the way to greater Fibonacci levels.
Moreover, the upward trending line since the middle of 2023 has also been used as a good support and a capability of maintaining above the line might also reinforce the case of a long-term rally. The manner in which the market is acting also proves that institutional support is playing the heavier hands which are reducing the chances of sudden collapse at the major support points.
Thus, the long-term price BNB prognosis is positive, and the forecast of $1,500 has a potential of ambitious but achievable growth with the expansion of adoption.
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