The only significant retracement during this period occurred last week, during one of the most important crypto liquidation events in history.
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The RSI is above 70 while the MACD is positive, signifying a bullish trend.
Since the price is at an all-time high, the 2.61 external Fibonacci retracement resistance level at $1,500 is likely to provide resistance if it is reached.
Why is BNB Going Up?
The wave count agrees with the bullish outlook from the weekly time frame.
If wave five has 0.618 times the length of waves one and three, the price will reach a top soon, hitting $1,440. This is close to the $1,500 area from the previous analysis.
However, another extension can take the BNB price to $2,000, giving wave five the same length as waves one and three.
While it remains unclear which target BNB will reach, the price is approaching a critical resistance level, which could trigger a short-term retracement.
Critical Level Reached
BNB’s rally has demonstrated remarkable resilience, with technical indicators and the wave count pointing toward higher targets in the near term.
Whether the price stalls around $1,500 or reaches the $2,000 mark, BNB remains one of the standout performers of this cycle.
Still, with resistance levels approaching, investors should prepare for potential short-term retracements before the next leg of the upward move.
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.
