The post BNB Price Breaks Out of Major Pattern, Eyes New Highs appeared on BitcoinEthereumNews.com.

BNB’s price has broken out of a long-term “falling wedge” pattern on high volume. The technical breakout is supported by strong on-chain growth in users and revenue. Analysis suggests the pattern has a potential long-term price target of $854 for BNB. BNB is flashing bullish signals across the board, surging past a daily high of $667.92 as its price breaks out of a major long-term chart pattern. The move is supported by a significant spike in trading volume to over $1.6 billion, evident from CoinMarketCap real-time data and is reinforced by strong on-chain metrics showing impressive growth in the BNB Chain ecosystem. From a technical perspective, BNB recently broke above the resistance trendline of a well-defined falling wedge that had been compressing its price action since late 2023.In technical analysis, a breakout from a falling wedge, especially when supported by a surge in volume, is often considered a strong bullish reversal signal.  If this classic technical setup continues to play out, analysis points to a potential long-term price target for BNB of $854, which would surpass its current all-time high of $793.35. Related: Bullish Catalysts Align for Binance’s BNB: SEC News, ETF Filing, Record Volume BNB Price Action Eyes Higher Targets After Breakout On the daily chart, the RSI is holding around the 52 mark. While this suggests bulls are currently defending key support, it also indicates that stronger conviction is needed to fuel a major rally. A continued surge in the RSI would likely signal growing buyer confidence. Notably, BNB faces strong resistance at $693, a level that has capped recent price surges. If the cryptocurrency manages to close above this range, bulls could push it to $732, the 1.0 Fibonacci extension level. The falling wedge breakout and MACD cross favor this narrative. Meanwhile, the MACD shows a subtle…

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Filed under: News - @ June 10, 2025 9:25 am