The biggest problem of the bull market is the inability to integrate knowledge and action
Unable to hold on, changing positions, chasing highs and selling lows, and then getting trapped in different targets.
Bitcoin is the leader in the cryptocurrency world, fighting against inflation and the issuance of additional fiat currencies; Ethereum is the first smart contract chain and the mother of all chains; CoinNius is the first platform coin in the cryptocurrency universe; Solana XRP is currently just a new U.S.-funded upstart.
BNB may be criticized by everyone, but you should still hold it. This kind of deterministic target will basically not be sold before there is a satisfactory answer. You can see that the top few currencies in the bull market are in a process of chasing each other, and the underlying logic is to maintain the industry status.
BNB soars to $1,000?
The recent rally in BNB price to new all-time highs can be largely attributed to the breakout of a head and shoulders pattern, a bullish reversal chart pattern. This pattern usually signals the end of a downtrend, which was confirmed when BNB broke above the $680-700 resistance zone.
After breaking out of the inverted head and shoulders pattern, the expected target price is $780, with the next key resistance level around $800. However, some analysts believe that BNB’s rally may have further to go.
Cryptocurrency analyst Ali of ali_charts predicts that BNB could rise to $1,630 if the weekly close remains above $662. This prediction has piqued the interest of traders, who are closely watching BNB’s price performance to assess whether it can maintain its current momentum and reach these higher targets.
Golden cross signals strengthening uptrend
On the BNB/USD chart, the 50-day Simple Moving Average (SMA) has crossed above the 200-day SMA, indicating further positive price momentum and forming a golden cross on the chart. This golden cross means that BNB is expected to continue to rise in the short and long term.
The fact that the 50-day moving average is currently trading above the 200-day moving average supports the view that BNB is still in the early stages of a long-term bullish trend. Golden crosses usually precede a significant price increase and are a way for many traders to establish long positions. Therefore, the market is becoming more confident that BNB will continue to rise to $1,000 in the near future.
If bears gain control, the $680-700 range that previously provided resistance is now expected to offer support. This level coincides with the neckline of the inverted head and shoulders pattern, so any pullback to this area will most likely be viewed as a buying opportunity.
BNB’s first level of resistance is at $780. If this level is breached, the next major resistance level will be around $800. A break above $800 will open the door to more targets, including the $1,630 predicted by Ali.
