BNB News: BNB Holds $1,020 After 10% Surge — Can Bulls Push Toward $1,565?
Key Takeaways:BNB trades at $1,023, slipping from its record high of $1,083 earlier today.Short-term pullback risk remains, with support levels at $1,012 and $974.Breakout patterns point to $1,150 in October and $1,250–$1,565 by year-end.BNB (BNB) is holding above the $1,020 mark after a sharp 10% weekend rally, making it one of the best-performing large-cap cryptocurrencies despite a sluggish broader market. The move pushed BNB into fresh price discovery, but traders are now eyeing whether the momentum can extend toward new milestones.BNB Faces Short-Term “Overbought” PressureThe rally drove BNB’s relative strength index (RSI) into overbought territory on the four-hour chart, signaling the likelihood of a pullback. Already, the token has slipped nearly 3% from its all-time high of $1,083 earlier in the day.Key downside targets include:$1,012: The 20-4H EMA and 0.236 Fibonacci retracement.$974: The 50-4H EMA and a critical trendline support level.A dip toward these levels would align with prior short-term corrections, while keeping BNB’s broader uptrend intact.Analysts Eye $1,150 in OctoberMarket analyst Gael Gallot noted that BNB’s breakout above $1,000 remains well-supported by strong trading activity, with daily volume topping $3.2 billion and a derivatives long/short ratio of 17.71, suggesting heavy bullish positioning.He added:“BNB broke the $1,000 mark and set a new high at $1,074 before consolidating near $987–$990. Momentum remains strong.”Historically, each retest of BNB’s ascending channel trendline since June has fueled 20–35% rebounds. A similar move would put BNB above $1,150 in October, even if a correction first takes it down toward $970.Year-End Rally Could Stretch to $1,565On higher timeframes, BNB’s breakout from a cup-and-handle pattern signals room for more upside. The token has flipped the 1.618 Fibonacci extension ($1,037) into support, with next upside targets at:$1,250: Cup-and-handle breakout target.$1,565: 2.618 Fibonacci extension, if momentum extends.This setup mirrors BNB’s 2,650% rally in 2020–2021, when a similar breakout pattern triggered a parabolic run.Onchain Data Signals OptimismBNB’s Net Unrealized Profit/Loss (NUPL) metric has returned to the optimism–anxiety zone, last seen in 2020–2021 before a multi-hundred-percent rally. This suggests holders are growing increasingly bullish, a sign of mid-cycle strength.With both technicals and onchain sentiment aligning, analysts see $1,250–$1,565 as realistic year-end targets, though short-term dips remain likely.