Bullish Whales and Charts Line Up for BNB's Big Breakout

Binance Coin (BNB) is currently exhibiting strong upward momentum, with recent price activity suggesting the potential for a breakout toward the key psychological level of $850. Technical analysis indicates that BNB is forming a bullish triangle pattern, a common continuation pattern that, when broken out, can lead to significant price surges. The coin has recently overcome several resistance levels, signaling growing buyer confidence and increased market participation. Analysts note that the current price proximity to $850 represents a critical juncture, as this level has historically acted as a psychological barrier for traders [1].

Intraday price movements reflect steady gains, with BNB trading near $836 and volume peaks aligning with upward price swings. This correlation suggests healthy demand and sustained interest among traders [1]. The Moving Average Convergence Divergence (MACD) line crossing above the signal line indicates strengthening bullish momentum, further supporting the likelihood of continued gains in the near term. However, the Chaikin Money Flow (CMF) remains slightly negative, hinting at potential selling pressure, possibly from institutional or large-scale traders, which could temper immediate price advances [1].

Technical indicators such as the Relative Strength Index (RSI) and MACD suggest that while the overall bullish trend persists, traders should remain cautious of possible short-term pullbacks before a decisive breakout materializes. The MACD histogram has entered positive territory, signaling rising buying pressure and continued dominance of bullish forces [1]. However, the CMF's position just below zero raises the possibility of a temporary slowdown or price correction in the coming days. Traders are advised to closely monitor a breakout above $850, as a successful and volume-backed move beyond this level could pave the way for further gains.

Meanwhile, BNB has retreated slightly from its all-time high of $868.68 to $851.97, but the coin remains within a bullish ascending triangle pattern. This technical structure suggests a potential for an upward breakout once resistance is cleared. Additionally, BNB has moved above the Ichimoku Cloud on the 4-hour chart, an indicator often used to confirm strong support levels and favorable trend bias [2]. The Awesome Oscillator (AO) has also turned positive, reinforcing the bullish sentiment as it indicates that short-term momentum is outpacing the longer-term trend [2].

On-chain data further supports the bullish outlook, with a notable increase in the number of wallets holding over 10,000 BNB coins. This surge in whale holdings indicates growing accumulation among large investors, signaling increased confidence in the token’s long-term value [2]. Combined with the favorable technical setup, this accumulation adds further weight to the argument for a continued short-term price upswing.

Looking ahead, the Money Flow Index (MFI) has broken above its previously descending trendline, signaling a potential reversal in capital flows. The MFI has also remained above the neutral 50 level, suggesting that buying pressure continues to outweigh selling volume [2]. This resilience implies that traders are consistently stepping in to accumulate BNB on dips, reinforcing the bullish sentiment. If this trend continues, BNB could surpass the $869.70 resistance level, with the next target potentially reaching a new all-time high of $1,092.90. However, any significant rise in selling pressure could invalidate this outlook, possibly pushing the price down to $792.40 [2].

Source: [1] BNB Price Surge Signals Triangle Breakout with $850 Target - Price Prediction (https://bravenewcoin.com/insights/bnb-price-surge-signals-triangle-breakout-with-850-target-price-prediction) [2] BNB Price Retreats from New ATH, Yet Dip May Not Halt Breakout (https://www.ccn.com/analysis/crypto/bnb-price-retreats-from-new-ath-dip-may-not-halt-breakout/)