Binance Coin (BNB) is positioned for a potential price rally, with market analysts projecting a $1000 milestone in 2025. Strategic developments, including Binance’s substantial token burn and promising technical chart patterns, indicate a potential upside move. With supply shrinking and technical indicators aligning, the crypto community is optimistic that BNB’s price could surge soon.
What you'll learn 👉
Massive Binance Coin Burn Signals Potential Price Risex
Recently, Binance conducted its 30th quarterly burn, which involved taking more than $1.16 billion worth of BNB tokens out of circulation. By reducing supply, this deflationary action may eventually raise the value of BNB.
In a tweet, YG Crypto highlighted how this burn demonstrates Binance’s commitment to its deflationary model. They pointed out that the burn strengthens faith in BNB’s long-term growth. The shrinking supply aligns with market dynamics, where reduced availability often drives up demand and price.
🔥 Binance Ignites $BNB with Massive Burn! 🔥
— YG crypto (@ygcrypto) January 23, 2025
Binance has just torched over $1.16 Billion in BNB tokens during its monumental 30th quarterly burn event. This significant move aims to reduce the supply of #BNB, potentially increasing its value. 🪙💸
The crypto community is… pic.twitter.com/jH9nzT3QWF
The crypto community sees this as a bullish signal, with many speculating a price surge. The burn showcases Binance’s confidence in BNB and positions it for potential massive growth.
Bullish BNB Chart Patterns Signal $1000 Target
Technical analysts are watching BNB’s price action, with Rose Premium Signals providing a detailed chart analysis. According to their tweet, BNB recently broke out of a descending channel—a key resistance zone that had confined its price for months.
The breakout, followed by a retest of the previous resistance as support, signals a bullish reversal. This classic technical setup suggests higher highs and higher lows in the future. Rose Premium Signals projected an ultimate target of $1005.64, aligning with the psychological milestone.
💰 #BNB $BNB 🚀
— Rose Premium Signals 🌹 (@VipRoseTr) January 22, 2025
A bullish breakout followed by a successful retest signals strong continuation potential 🐃
Key levels aligning for a move toward the next psychological milestone!
🎯 Target: $1005.64 pic.twitter.com/jPpUjhVhCa
Key support levels include $610.62, which must hold to confirm the bullish setup. Resistance at $750-$800 is the next hurdle before the $1000 mark. Rose urges traders to monitor momentum and volume for confirmation of the next leg up.
Read also: Why Is the Crypto Market Down Today as Bitcoin Drops Near $100k
BNB Price Action and Potential for All-Time High
At press time, BNB is priced at $682.55, roughly 13.3% below its all-time high of $788.84 reached on December 4. A surge past this ATH could act as a catalyst for the rally toward $1000.
According to CoinGecko data, BNB’s price has dropped 2.12% over the last day, indicating a minor reversal. The psychological appeal of $1000 adds to the excitement. Round numbers often act as magnets for price action, attracting traders and investors. The tweets from YG Crypto and Rose Premium Signals further highlight growing confidence in BNB’s future.
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