BNB is currently trading at $910, marking a 1.6% increase in the past 24 hours. The token is once again approaching a significant resistance level that has influenced its trend for nearly seven years. Despite a 26% drop in volume, activity remains robust, exceeding $2 billion.
Technical Analysis and Price Projections
Analysts are observing that BNB is reiterating its test of the upper boundary of its long-term ascending channel. This resistance level has been tested five times since 2018, with each prior retest ultimately leading to higher price highs. This historical pattern fuels optimism for a potential breakout, especially if trading volume experiences a substantial increase. Current technical models suggest initial price targets ranging between $950 and $1,000. Furthermore, Fibonacci projections indicate a broader potential range of $1,150 to $1,500 extending into 2026.
Underlying Strength and Market Sentiment
The weekly Relative Strength Index (RSI) is positioned near 58, exhibiting a bullish divergence that points to underlying strength in the market. Concurrently, the Moving Average Convergence Divergence (MACD) indicator has registered a positive cross, further reinforcing the possibility of upward momentum should BNB successfully break out of its current channel. Market observers stress that this critical price zone continues to dictate the token's trajectory, and the immediate trading sessions will be pivotal in determining whether sustained demand can propel BNB beyond the levels that have historically capped its price for close to a decade.