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- Binance Coin ($BNB) tests key resistance near $931 for a potential breakout.
- Price could target $960–$1,000 if resistance is broken.
- Binance ecosystem upgrades and liquidity programs boost demand.
The Binance token, $BNB coin, currently trading around $907.84, is holding its position as the fourth-largest cryptocurrency by market capitalisation.
With a market cap of over $125 billion, Binance Coin ($BNB) has surpassed XRP, signalling its growing influence among top-tier digital assets.
$BNB coin price technical analysis
$BNB has been trading within a consolidation range between $894 and $920 for the past several days.
Most notably, the token is testing key resistance near $931, which has capped price advances recently.
A decisive daily close above this level could open the door for a strong upward move.
Short-term traders should closely watch the support around $856–$880, which has proven resilient in absorbing sell pressure.
Technical indicators suggest a potential breakout, with the 20-day EMA trending above the 50-day EMA, signalling bullish momentum.
Momentum indicators, including RSI around 58 and a bullish MACD crossover, add to the positive outlook.
$BNB coin price analysis">
Furthermore, past trading patterns, like ascending triangles and Adam & Eve reversal formations, indicate that $BNB may be primed for a significant surge.
Derivatives data also support this sentiment, with futures open interest rising to $1.5 billion and long-to-short ratios favouring bullish positions.
Funding rates flipping positive further suggest that traders are anticipating gains in the near term.
Binance ecosystem catalysts
The rise of $BNB coin is not only technical but also fundamental.
The $BNB Chain Foundation recently launched a $100 million liquidity program to support DeFi, gaming, AI, and ecosystem tokens.
This initiative strengthens the network’s adoption and increases on-chain activity, which can drive further demand for $BNB.
An upcoming Fermi hard fork is also expected to improve block speed and throughput, making the network more efficient for users and developers.
Binance’s strategic support for memecoins and high-volume trading pairs has also contributed to $BNB’s momentum.
$BNB coin price forecast
Investors and traders should closely monitor $BNB’s price action, as a decisive move above current resistance levels may mark a new phase of growth for the Binance ecosystem.
If the $BNB coin price successfully breaks above the $931 resistance, the next short-term targets could range from $960 to $1,000.
Failure to surpass this level could see $BNB retest support zones around $856–$880, maintaining a range-bound pattern.
The current consolidation, combined with strong on-chain activity and bullish derivatives positioning, suggests that $BNB is on the verge of a breakout.