The post BNB Price Prediction: Road To $1,000 appeared on BitcoinEthereumNews.com.

The BNB price saw a steady rise in early 2024. Now, the token is once again showing an ordinary bullish pennant pattern. It indicates that a grand breakout may come soon. The pattern, formed over several months, showed consolidation after such strong bullish momentum. According to recent trading activity and technical chart formations, BNB could surge past the $1,000 milestone. To do that, it needs to break above the pennant resistance. As of press time, BNB was trading at around $606.17 per CoinMarketCap data. The coin’s 24-hour trading volume stood at $1.48 billion during the same period. Technical Analysis Points to Impending Breakout The 2-day charts showed the downtrend line resistance, which BNB price tested for some weeks. On recent candles, Binance Coin was moving toward a decisive move. It got pushed up against the upper boundary of the pennant. However, Binance Coin’s latest behavior could be analyzed more closely on the four-hour chart. According to this, BNB has consolidated between $593 and $610. A range-bound movement usually builds up energy for a strong move. Still, the indecision in the market is evident through this movement. As shown by the charts of the Stochastic RSI on the 4-hour timeframe, momentum has been cycling around oversold territory. It allows buyers to step in and take control, provided resistance is breached. 4-hour BNB/USDT Chart | Source: TradingView Crucial levels to keep an eye on if the downside break plays out would be support levels around $593 and $569. However, the current momentum was leaning slightly bullish compared to the price action. Volume and Market Behavior Support Potential Upside for BNB Price The volume analysis showed very moderate growth in buying interest in the last 24 hours, elevating the BNB’s trading volume by 2.15%. The volume-to-market cap ratio was 1.73%. It painted a…

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Filed under: News - @ May 2, 2025 11:20 am