BNB Reaches New All-Time High - What's Next? | Credit: Derek Fenech
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Key Takeaways
BNB reached a new all-time high price of $855 today.
The BNB price trades inside a long-term ascending wedge.
How much longer will the BNB price increase continue?
BNB, previously known as Binance Coin, reached a new all-time high of $855 today. It is the fifth-largest cryptocurrency by market cap and the largest centralized exchange token.
The surge in BNB has added fuel to an already heating altcoin rally, reinforcing the growing belief that altseason is officially underway.
With the token now firmly in price discovery mode, all eyes are on its next move. How much higher can it go? Let’s take a closer look at the price action.
BNB All-Time High
BNB has been on a tear in recent months, and the weekly price chart tells a clear story.
After bottoming out at $504 in February, its lowest price this year, the token began to build steady bullish momentum.
A series of long lower wicks hinted at growing buying pressure, and by July, the move turned parabolic, culminating in a new all-time high of $855.
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From a technical perspective, the most likely Elliott Wave count suggests BNB is now in the fifth and final wave of an upward trend that began back in May 2022.
While wave five still appears to be in its early stages, the current wedge-shaped movement suggests the formation of an ending diagonal—a pattern often seen at the top of major trends.
If this pattern plays out, BNB could reach as high as $1,035 before facing a pullback and broader market correction.
The chart illustrates both the larger wave count (in green) and the smaller sub-waves (in black), giving a more detailed picture of where BNB might be heading next.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
