- BNB shows the formation of the bullish cup and handles on weekly charts.
- Could retest $1000 in the short term and $5400 in the long term.
- BNB recently flipped Ethereum in terms of daily DEX transactions.
A cup and handle chart pattern has formed on the weekly charts of BNB Coin. Weekly chart patterns are considered much more stable trends and have higher rates of success. Together with a cup and handle chart pattern, it signals that BNB could reach $1000 in the short run, breaking BNB’s ATH of $793.35.
The pattern started forming in early 2021 and was completed in late 2024, which makes it almost 4-year wide. Patterns formed on larger timeframes have a better rate of success.
The neckline of the pattern is at $673, and the breakout happened in the second week of December 2024. Since the breakout,, BNB has not gone below these levels, signaling strong support at this price.
Note: There was a false breakdown (opposite of a false breakout) on 13 Jan 2025, but that did not sustain, and BNB quickly recovered above $670 to $680 levels.
Price Analysis
Last month, BNB saw the formation of long-term cup and handle patterns on its weekly charts. Being one of the top altcoins, BNB could flip Ethereum if this cup and handle pattern materializes in its ideal form. This could then give BNB a rally to the $5400 level.
Further, given the strong momentum in its charts, BNB could soon secure a rally to $1000. The RSI on BNB charts indicates a strong bullish level of 60 while its MACD has already shown positive divergence on weekly charts.
Note: BNB’s current all-time high is at $793.35.
Fundamental Factors
In the long run, BNB could give tough competition to Ethereum in terms of user metrics. Recently, it flipped Ethereum in terms of Daily DEX Transactions, securing $5.7 billion in transaction value in a single day as compared to Ethereum’s $5.05 billion.
At present, BNB is the largest non-Ethereum chain that supports the widest range of cross-chain assets like BNB-pegged SHIB and BNB-pegged BTC, among others. This makes it cheaper for users to buy assets from exchanges and simply transfer them to their BNB-supported wallet.
All these factors could lift BNB together with the resurgence of the altcoins season. The present altcoin season arrived in December 2024, i.e., last month, but failed to sustain because of the market corrections and little possibility of an interest rate cut in the US.