On Friday, October 3, the BNB price reached a new all-time high of $1110,9, up 31% from last month’s low and 107% from this year’s low.
The daily chart shows that BNB has been steadily growing since the end of June. It broke through the important resistance level of $797,7, which it reached on December 4.
BNB’s price has risen above all key moving averages, with the 50-day SMA crossing above the 200-day SMA, forming a bullish «golden cross» pattern that historically precedes strong gains in weeks or months.
In technical analysis, this pattern forms when an asset trades between two ascending parallel trendlines. It typically indicates a sustained uptrend and suggests increasing profits as long as the price remains within the channel. A break above the upper trendline serves as an even stronger bullish signal and often indicates an acceleration of the upward momentum.
The MACD lines are also pointing upward, and the green histograms are rising. Aroon Up is at 100%, and Aroon Down is at 50%. This situation indicates that buying pressure significantly exceeds selling pressure.
Thus, BNB is likely to continue moving towards the psychological resistance level of $1200.