BNB Breaks 2-Year Resistance, 540% Surge to $390 Projected

BNB has breached a critical two-year parabolic resistance level, sparking a technical analysis-driven projection toward $390 as the next price target. The breakout, observed on the weekly timeframe, began near $25.34 after the asset bounced off the 50-week moving average and crossed above strong resistance lines. Analysts have labeled this development a “Retirement Plan” setup, suggesting a potential 540% surge to $390 based on historical patterns [1]. The move marks a significant shift in momentum, with the token’s price now free of the structural ceiling that had constrained gains since late 2017.

The technical setup underscores a confluence of key levels. The 50-week moving average served as a crucial support base during the correction phase, with BNB repeatedly testing this area near $22 before surging to $29.50. Two diagonal support lines, described as “Very Strong Resistance Lines,” had formed a wedge pattern over months, compressing price action until the recent breakout. The subsequent rise above this structure was accompanied by increased volume, signaling institutional or algorithmic participation [1]. The current trajectory now projects a short-term target at $56.93 (TP1) before aiming for the $390 zone.

Historical parallels further validate the optimism. In early 2019, a similar breakout from resistance saw BNB rally over 540% in less than 120 days, surging from under $7 to nearly $40. The current chart pattern mirrors this precedent, with the same 540% multiple implying a $390 target. A green bar on the chart visually confirms this trajectory, pointing toward the “Retirement Plan” zone. However, the absence of major overhead resistance between current levels and $390 suggests a clear path for continued gains, though traders remain cautious about potential pullbacks.

The structural shift has transformed the former resistance into a potential support zone. If prices retrace, $29.50—a key swing high before the breakout—could act as a confirmation point for buyers. Analysts emphasize that holding above the 50-week moving average reinforces the bullish case, as it indicates sustained strength and buyer dominance. The immediate focus is on whether BNB can consolidate above the $56.93 threshold without significant slippage, which would validate the next leg of the move toward $390.

Critically, the $390 target represents both a psychological and technical milestone. Sustained momentum above this level could trigger follow-through buying from algorithmic systems and retail investors, amplifying the upward trend. However, volatility remains a risk, and a failed breakout could lead to a retracement to key support levels, testing the resilience of the current rally. Market participants are also monitoring on-chain metrics, such as liquidity flows and whale accumulation, for further signals of conviction.

The broader context of BNB’s performance includes its expanding utility within the Binance Smart Chain ecosystem, though this article focuses exclusively on technical factors. The recent surge reflects a broader re-rating of the asset’s potential, driven by strategic developments and renewed DeFi activity. As the token navigates this critical phase, the interplay between technical indicators and on-chain data will remain pivotal in shaping its next move.

Source: [1] [BNB Surges Past Resistance and Sets $390 as Next Technical Price Goal] [https://cryptonewsland.com/bnb-past-and-sets-390-as-technical-price/]