- Binance Coin price is close to a decisive bullish breakout that could trigger a nearly 50% rally.
- Bulls are in control and have displayed impressive support.
- Near-term resistance may not hold for long.
Binance Coin price has been one of the few bright lights in the cryptocurrency space over the past two weeks. Despite closing below last week’s weekly candlestick at the open and retracing 10% from the highs, bulls have pushed BNB to an early rally this week with an 8% swing higher.
Binance Coin price is set to outperform its peers, but a close above $450 is necessary to sustain any rally
Binance Coin price action is already testing the resistance level that BNB was rejected against last week: the $450 value area. The $450 value area contains the final and single most extensive collection of resistance for BNB on the weekly Ichimoku chart. The 2022 Volume Point of Control, weekly Tenkan-Sen, and weekly Kijun-Sen all share the $450 value area.
A hypothetical long opportunity exists with a buy stop order at $456, a stop loss at $400, and a profit target at $660. The entry is only valid if the weekly close is at $456 or slightly above it. The profit target is the 61.8% Fibonacci expansion and in range of the prior all-time highs. If enough momentum exists, it is entirely possible that Binance Coin price could extend beyond $660 and make a run towards the 100% Fibonacci expansion at $1,000.
The oscillators support a robust, bullish, expansive move occurring very soon. The Relative Strength Index has maintained a bull market setup, with the final oversold level at 40 holding as the primary support structure in that oscillator. Additionally, the Composite Index was at the third lowest levels in its history for a little over a month and flatlined, creating regular bullish divergence. The Composite Index is poised to create a solid bullish expansion signal with a crossover of its fast-moving average.
BNB/USDT Weekly Ichimoku Kinko Hyo Chart
The hypothetical long entry for Binance Coin price and bullish outlook will be invalidated if there is a weekly close inside the Ichimoku Cloud at or below the $380 value area.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Dogecoin Price Prediction: Profit-taking in DOGE hits monthly high, raising the risk of a crash
Dogecoin (DOGE) hovers below its key weekly level of $0.18 at the time of writing on Monday, signaling a waning of bullish momentum. DOGE is flashing early warning signs, as on-chain data indicates rising selling pressure among holders, with profit-taking having surged to a monthly high and dormant wallet activity rising.

SPX6900 Price Forecast: Bullish continuation eyes new all-time high
SPX6900 (SPX) meme coin edges higher by almost 2% at press time on Monday, following a 4.71% brilliant recovery the previous day. The renewed confidence of whales in the meme coin is suspected to have catalyzed the recovery, resulting in increased optimism in SPX derivatives.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP stabilize near critical support levels
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of stabilization around key support levels after a recent correction last week. BTC attempts to regain strength after closing below its critical support level, while ETH and XRP hover near technical thresholds that could determine the direction of their next moves.

Top Crypto Gainers Price Prediction: Jito, Bitcoin Cash, and Solana lead the market recovery
The broader cryptocurrency market ended the previous week with a minor recovery on Sunday. Holding gains from the prior day, Jito (JTO), Bitcoin Cash (BCH), and Solana (SOL) are the top performers over the last 24 hours. Despite a minor pullback on Monday, JTO, BCH, and SOL are close to breaking out critical levels, potentially extending gains this week.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle
Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.