Bnb Rally Towards 1k

last updated on

Bnb Rally Towards 1k

Binance Coin (Bnb): A Rally Towards $1000

BNB is trading near the $700 handle, which is already a multi-year high for the coin. This confirms that BNB went through a bullish market, and now the next target for bulls is $1000.

If BNB manages to break through the $1000 level, then the next stop for the bulls will be $1450 - $1500. If we look back, the important support levels for BNB are $500, $300, and then $180.

Bnb Coin Finds Support At $700

One particular move that is fueling the BNB growth is that Binance has put a lot of resources into expanding into the financial sector of Mexico. Over the long run, this is seen as a positive development for the BNB coin.

For many months, the $700 was acting as a strong resistance for BNB. But now that it's been turned into a support, it is entirely possible for the BNB to hit the $1000 mark.

According to experts, the break of $700 is a sign that the market is now transitioning from the consolidation phase into a trending market.

Ever since bottoming near $180, the BNB coin has maintained a bullish market structure. Even the charts of the BNB coin show that it is making higher highs and higher lows. This shows that bullish continuation is still going strong in the BNB coin.

The Fib extension levels also show that the $1000 level is important for the BNB coin. In the past, that level was briefly touched, followed by strong selling.

So, if BNB coin can reclaim the $1K level again, it would show that it is now ready for the $1500 fib extension level. The experts also added that the BNB coin might go through consolidation in the short term, but the long-term trend remains bullish.

The bullish forecast for BNB coin will remain valid as long as it stays above the $700 level. But if the BNB coin breaks below $700, then the bullish forecast will be invalidated as the coin will then move towards $500.

Trending Stories