The price of Binance Coin (BNB) continues to gain traction, recently surpassing the $804 mark, which is a new all-time high. This surge has attracted the attention of traders and analysts alike.
Analysis of the BNB Price Breakout
The rapid rise of BNB above its previous all-time high of $690 marks a significant technical milestone. The increase in trading volume and positive momentum indicators support this surge. The breakout into new territory strengthens the forecast for continued price increases towards $1,000 and $1,200.
Technical Indicators Supporting the BNB Rally
Key indicators pointing towards continued growth of BNB:
* **Fibonacci Extension Levels:** - 0.618 Fib Extension = $804 (already tested) - 1.0 Extension = $950 (next target) - 1.618 Extension = $1,200 (long-term target)
* **Relative Strength Index (RSI):** - Current RSI above 80, indicating overbought conditions. - No signs of divergence, indicating momentum remains intact.
* **MACD (Moving Average Convergence Divergence):** - Strong bullish crossover with expanding histogram. - MACD line well above the signal line, confirming strength.
BNB Price Targets: What's Next?
Potential target levels for BNB:
| Target Level | Indicator Basis | Probability | | --- | --- | --- | | $950 | 1.0 Fib Extension | High | | $1,000 | Psychological Resistance | High | | $1,080 | Bull Flag Breakout Target | Medium | | $1,200 | 1.618 Fib Extension | Moderate |
With current indicators and technical analysis, Binance Coin (BNB) shows steady growth, and traders are closely monitoring the achievement of new price levels.
