BNB Surge to Record Peak Strengthens, Yet This Key Level Needs to Be Maintained

The weekly chart for BNB is garnering significant attention as market analyst UniChartz highlights its notable upward momentum. This momentum is backed by the essential 50-week Exponential Moving Average (EMA), which has consistently acted as a reliable support level. Despite being tested numerous times, this moving average has successfully prevented deeper pullbacks while aiding the current uptrend’s stability.

Support Becomes Bullish: Past Resistance Drives Growth

In a recent post on X, UniChartz pointed out a pivotal development in BNB’s price movement. He noted that the asset has surpassed a longstanding declining resistance line, indicating a potential transformation in the overall market dynamics. This breakout is inherently bullish, further amplified by BNB reclaiming a significant support-resistance area.

As per UniChartz, this reclaimed zone, which was once a battleground between buyers and sellers, has evolved into a robust foundation for the ongoing rally. The shift from resistance to support showcases increasing bullish sentiment and implies that traders are more inclined to buy at elevated levels rather than offload in strength.

The breakout from the descending trendline, coupled with the solid support zone, provides strong technical validation for BNB’s upward trajectory. UniChartz emphasized that these areas now serve as critical supports for the ongoing rally. Maintaining prices above this reclaimed zone is essential for sustaining upward momentum, with bulls likely eyeing higher resistance levels in the weeks ahead.

BNB’s Bullish Framework Remains Strong

Concluding his analysis, UniChartz conveyed a positive outlook for BNB’s future, asserting that the technical framework remains distinctly bullish. If BNB can sustain its position above these pivotal levels, he anticipates that the next major target will be a retest of the all-time high near $793.

This price point represents a significant psychological and technical obstacle, and overcoming it could act as a powerful driver for the asset. Should bulls succeed in breaking and closing above this level with adequate volume, it may pave the way for an extended rally, pushing BNB towards the $1,000 mark and beyond.

A surge of this magnitude would reinforce the strength of the current trend and solidify BNB’s reputation as one of the leading assets in the cryptocurrency market. However, the ability of BNB to maintain this upward momentum will depend on continued bullish activity, favorable market conditions, and supportive volume patterns, which are all crucial for entering a price discovery phase.