Key takeaways:
BNB faces short-term correction risks but maintains a strong bullish structure above the trend line.
Breakout patterns and onchain optimism point to upside targets of $1,250–$1,565 by year-end.
BNB (BNB) has jumped over 10% this weekend, outpacing a largely stagnant crypto market that remained flat.
With momentum diverging from its peers and in price discovery, the question is, can the Binance-linked token push even higher?
BNB faces “overbought” risks in September
BNB’s latest rally has pushed the relative strength index (RSI) on the four-hour chart into overbought territory, raising the risk of a short-term pullback. The token has slipped 2.89% from its record $1,083.50 established earlier today.
A correction toward the 20-4H exponential moving average (20-4H EMA; the green wave) near $1,012 looks increasingly likely in the coming days, if the recent overbought declines are any indication. This short-term target further aligns with the 0.236 Fib retracement.
BNB’s decline could extend toward the 50-4H EMA around $974, a level that has provided reliable trend support, if selling pressure deepens into next week.
BNB price may reach $1,150 in October
For analyst Gael Gallot, BNB holding above $970 support is a sign of healthy consolidation, citing persistently rising trading volume and long overweight positions in the derivatives market.
He said in his Sunday post:
“BNB broke the 1000 mark and set a new high at 1074 before settling near support at 987 to 990. Trading volume hit 3.28 billion during the move, and momentum remains strong with a long short ratio of 17.71, showing bullish positioning.”
The $970 price floor also serves as the lower trendline of BNB’s broader ascending channel pattern, as shown below.
Since June, each retest of the lower trendline has historically triggered 20–35% rebounds toward the channel’s top.
A repeat of this fractal pattern will see BNB break above $1,150 in October, up 10% from current levels, even if prices first retrace toward $970 in the coming days.
BNB’s year-end target is $1,250 or higher
Looking further, BNB is setting up for a potential year-end rally, fueled by its breakout from a long-term cup-and-handle formation.
The price has cleared the 1.618 Fibonacci extension near $1,037, flipping it into support. Its upside targets emerge at $1,250, measured from the cup-and-handle breakout, and the 2.618 Fib line around $1,565, if momentum holds.
This setup mirrors BNB’s 2,650% rally following its ascending triangle breakout in 2020–2021.
Related: ‘Diamond hand’ investor turns $1K into $1M as BNB tops $1,000
BNB onchain data leans bullish
BNB’s Net Unrealized Profit/Loss (NUPL) metric has returned to the optimism–anxiety zone, a level last seen during the 2020–2021 bull rally that preceded a run from under $50 to over $600.
The current sentiment suggests holders are leaning optimistic, often a sign of mid-cycle strength. With both BNB technicals and fundamentals looking strong, BNB may enter its most bullish phase of the cycle, even if short-term corrections occur.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
