Binance Coin Reaches $810, 25% Gains Fuelled by Regulatory Momentum and 2021-Style Technical Patterns

Binance Coin (BNB) has reached a new all-time high of $810, sparking renewed optimism among market participants as a technical pattern reminiscent of the 2021 bull run reemerges. The rally, which has seen BNB surge 25% since early June, has drawn comparisons to the prior year’s market dynamics, where BNB’s breakout marked the beginning of an extended altcoin season [1]. Analysts suggest that improving macroeconomic conditions and regulatory developments are creating a favorable backdrop for continued upside.

The cryptocurrency market has seen a shift in sentiment, with geopolitical uncertainties and trade tensions receding as pro-crypto regulatory momentum gains traction. The recent signing of the GENIUS Act and expectations for the CLARITY Act in October have provided additional catalysts, extending the bullish narrative beyond the initial “Crypto Week” hype [1]. These developments, coupled with a broader risk-on environment, have attracted sidelined capital into digital assets, further supporting altcoin demand.

Historical parallels are being drawn between the current rally and 2021, when BNB’s ascent to a then-record high coincided with a parabolic surge in the Totals 3 altcoin market cap index. Popular analyst Blockchain Backer has highlighted the correlation, noting that new BNB highs often precede a broader altcoin season. While the current Altcoin Season Index has climbed from 20 to 41 since June, it remains below the 75 threshold considered a full-blown altseason [1]. However, the index’s upward trajectory, despite a recent pullback to overbought conditions, suggests underlying strength in the sector.

Technical analysis of BNB’s price action reinforces the case for further gains. The token has confirmed support at the lower boundary of an ascending channel, a pattern observed during its 2021 rally. The RSI has rebounded from the neutral 50 level after declining from overbought territory, while the MACD’s flattening below the signal line on the 4-hour chart signals a potential reversal in the short-term downtrend [1]. A breakout above the $810 resistance level could validate the broader uptrend, with the 1.618 Fibonacci extension at $894 representing a key target for further gains.

Blockchain Backer has emphasized that a successful retest of $810 could mark a pivotal turning point, mirroring the momentum seen in 2021 [1]. Such a move would likely coincide with a broader market shift, as the Totals 3 index gains traction alongside BNB’s rally. However, traders are advised to monitor overbought conditions and potential corrections, as the altcoin market remains sensitive to shifts in macroeconomic sentiment.

The convergence of technical strength, regulatory tailwinds, and historical patterns underscores the potential for BNB to lead a new cycle of altcoin growth. While risks remain, the current environment mirrors the conditions that preceded the 2021 boom, offering a compelling case for cautious optimism.

Source: [1] [title] [url] (https://cryptonews.com/news/binance-coin-price-prediction-as-new-ath-sets-up-2021-style-run/)