BNB is currently priced at $868 after breaking through long-term resistance, with technical parameters suggesting a potential move towards $2000.
Breakout from Multi-Year Consolidation
The Binance Coin chart shows a multi-year consolidation between 2021 and 2023, with resistance anchored near $670–$690. This follows the breakout in 2020 that pushed the price to its all-time high of around $690 in 2021. Between 2018 and 2020, BNB touched cyclical lows at significant Fibonacci retracement levels: 0.786 and 0.618 zones, forming a basis for massive rallies. The ongoing breakout from the 2021–2023 range implies the start of a growth phase.
Technical Targets and Momentum Structure
Crypto Patel shared the chart stating, 'BNB at $868... and I’m aiming for $2000 next.' His analysis emphasizes growing momentum and liquidity. Fibonacci extension levels support the projection, with targets at 1.618 and 2.618 aligned near $1,879 and $2,000 respectively. Volume trends on lower timeframes confirm increasing participation as the price moves away from the breakout zone.
Key Levels for Continuation or Reversal
As of writing, BNB is priced at $846.19, reflecting a daily decline of 0.58% but a weekly gain of 7.59%. Despite the slight dip, the structure remains intact. The $560–$580 zone is critical support, where failure to hold could delay the bullish trajectory. If the price maintains acceptance above $670–$690, the path toward $1,121, $1,879, and $2,000 becomes more feasible.
The current trading structure of BNB, amid rising liquidity and breakout from resistance levels, positions the asset in market focus. Observers are monitoring for continued strength into 2025.
