BNB Targets New Heights: Post-$1,050 Breakout Sets Sights on $1,100 Binance Coin (BNB) is currently experiencing a significant bullish run, having successfully breached the critical $1,050 mark. This impressive performance, fueled by a robust "cup-and-handle" breakout pattern, has market analysts optimistic about its next price target, potentially pushing the digital asset towards the $1,100 threshold.
Sustained Momentum Propels BNB
Crypto analyst CiphertX recently highlighted BNB's official breakthrough past the $1,050 level, building on its strong September rally. This move not only solidifies the asset's bullish momentum but also positions it as a standout performer in the current market. Looking ahead, the immediate focus shifts to the $1,100 resistance zone. A decisive push above this point could unlock substantial upside potential for BNB through the fourth quarter, extending its rally further.
Technical Patterns Signal Further Gains
Market analyst Kamran Asghar identified a classic "Cup and Handle" formation on BNB's 4-hour chart. This technical pattern is widely recognized as a bullish continuation signal, typically appearing after a period of consolidation before a strong upward move. The key resistance level for this formation, known as the neckline, is situated at $1,030. A successful breakout and a strong close above this neckline would validate the pattern, likely triggering increased buying pressure and paving the way for BNB to reach or even surpass the $1,100 region. While the current market sentiment is overwhelmingly positive, analysts advise caution. A failure to overcome the neckline resistance at $1,030 could lead to short-term pullbacks, with strong support levels identified around $1,000 and $900 acting as a safety net for bulls. For now, buyers remain firmly in control, suggesting BNB is well-positioned for continued ascent into the new quarter.
