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Key Takeaways
How high can Binance Coin go this cycle?
The exchange token of the largest centralized exchange could push past $1,500 and even target $2,000 if favorable conditions for Bitcoin and the market prevail in the coming months.
Can traders and investors expect a price dip to buy more?
In case of a pullback, the $950-$1,000 area would be the first demand zone, and $800 the next support level to keep an eye on.
Binance Coin [BNB] made a new all-time high of $1,079 on the 21st of September. The exchange token was likely to move to the $1,187 price target, the next Fibonacci extension level.
In the short term, the $1,040 and $1,000 levels were possible targets that the price could drop to in search of liquidity. However, the magnetic zone building up just below $1,100 was closer and denser.
Hence, it is likely that the next 24–48 hours will see another push and new ATHs.
Long-term BNB price prediction
Source: BNB/USDT on TradingView
On the 1-day chart, the structure and momentum of Binance Coin were strongly bullish.
The exchange token was in price discovery mode, and with Bitcoin [BTC] only at $115k and not firing overheated onchain signals, BNB might have more room to grow.
The weekly chart highlighted the strength of the token since July. The $740 level had been a strong resistance at that point, and had been in place since November 2024.
In July, BNB broke out past this resistance and left behind a fair value gap, or imbalance, that is highlighted by the white box.
After the breakout, BNB retraced to test the upper part of the fair value gap and bounded higher in August.
This was a hugely positive sign for investors as it highlighted buyer dominance. The moving averages and the Awesome Oscillator showed that the momentum on the weekly timeframe was firmly bullish.
Source: BNB/USDT on TradingView
Examining the rally in the previous cycle briefly, we can see that BNB saw nearly 18 months of accumulation below $40. In early 2021, Binance Coin exploded higher, reaching $280 and eventually the cycle high of $691.
This has some parallels with the 8-month accumulation BNB saw below $750, but the market cap is much bigger now. Hence, while its moves might not be as explosively large or quick, they can surprise investors.
Therefore, trying to call the top until Bitcoin onchain metrics heat up might not be a good idea for holders.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
