BNB Price has seen a remarkable surge over the weekend, climbing over 10% despite a generally stagnant cryptocurrency market. This impressive rise in the Binance token has left analysts pondering its potential to reach new heights by the end of the year.
BNB Price Faces Short-Term Correction Risks
The recent rally in BNB price has propelled its relative strength index (RSI) into overbought territory on the four-hour chart. This situation raises the possibility of a short-term pullback. The token recently slipped 2.89% from its record high of $1,083.50. A correction toward the 20-4H exponential moving average (EMA) near $1,012 appears likely based on recent patterns. This short-term target aligns with the 0.236 Fibonacci retracement level.
Should selling pressure intensify, the BNB price could fall toward the 50-4H EMA at approximately $974, a historically reliable trend support level. However, a strong foundation above $970 could signal healthy consolidation.
BNB Price May Climb to $1,150 in October
According to analyst Gael Gallot, the BNB price maintaining its position above $970 is indicative of a stable consolidation phase. Gallot highlighted the rise in trading volume and the persistence of long positions in the derivatives market as signs of bullish momentum.
“BNB broke through the $1,000 mark and set a new high at $1,074 before stabilizing near support at $987 to $990. Trading volume soared to $3.28 billion during this movement, with a long-short ratio of 17.71, indicating bullish positioning,” Gallot noted.
The $970 price floor also functions as the lower trendline of BNB’s broader ascending channel. Historically, each retest of this trendline has triggered rebounds of 20–35% toward the channel’s upper boundary. If this pattern recurs, the BNB price could exceed $1,150 by October, even if prices initially retrace to $970.
Year-End BNB Price Target: $1,250 and Beyond
Looking further ahead, BNB is poised for a potential year-end rally, driven by its breakout from a long-term cup-and-handle formation. The BNB price has surpassed the 1.618 Fibonacci extension near $1,037, flipping it into support. Upside targets now include $1,250, derived from the cup-and-handle breakout, and the 2.618 Fibonacci line around $1,565, provided momentum persists.
This setup is reminiscent of BNB’s 2,650% rally following its ascending triangle breakout in 2020–2021. Onchain data supports a bullish outlook, with the Net Unrealized Profit/Loss (NUPL) metric returning to the optimism–anxiety zone, similar to levels seen during the previous bull rally.
Overall, with both technical and fundamental factors aligning, the BNB price could enter a particularly bullish phase, despite potential short-term corrections.
This article is not intended as investment advice. Every investment decision involves risk, and readers should conduct their own research.
