BNB Price Chart Flashing Bullish Signal: $4,500 Ahead?Binance Coin (BNB) is nearing a key technical level as market attention turns to whether the price can break out of a long-standing range.
The asset is trading within a rising structure on the higher timeframes, and analysts are watching for any clear move above the current resistance.
BNB Trades Near Major Resistance
BNB is trading around $1,181 at press time, down slightly over the past 24 hours and nearly 10% lower on the week. Even with the dip, the price remains within a rising channel that has developed over multiple years. The upper boundary of this channel sits near $1,400, a level that has previously caused reversals.
Analyst Jonathan Carter described this point as a “make-or-break moment” for BNB. He mapped out longer-term targets at $1,800, $2,500, and $4,500, provided the current resistance area is cleared. These levels are based on previous price reactions and key horizontal zones.
The 50-period moving average is rising below the current price, and the RSI remains neutral, allowing room for continued movement if momentum builds.
Furthermore, BNB found support at $1,069.75 during the recent pullback. It has since rebounded and is now trading above $1,140. This level has become important as price continues to hover within a range between $1,120 and $1,200, which appears to be acting as a decision zone.
Market watcher Skull noted,
“Buyers still in control with price action showing resilience in this zone.” He added, “If we break $1,200 again, next stop gonna be new highs.”
So far, the level has held, but another test of $1,200 may be needed to confirm momentum.
Derivatives Market Signals Trader Interest
According to Coinglass, BNB futures open interest is just under $2.5 billion. This figure has grown steadily since mid-July, tracking alongside price gains. The rise in open interest reflects growing participation in the BNB market.
Source: CoinglassWhile open interest has pulled back slightly from its recent peak, the overall level remains high. Traders appear to be maintaining exposure, and market positioning still leans toward a continuation, provided BNB stays above the key support levels.
The post BNB Price Chart Flashing Bullish Signal: $4,500 Ahead? appeared first on CryptoPotato.
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BNB Price Chart Flashing Bullish Signal: $4,500 Ahead?
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