Binance Coin just pulled off a huge milestone. It smashed through the $1,000 mark for the first time ever this week and is now trading at a fresh all-time high near $1,080. A breakout like that always gets traders excited, so it’s worth taking a close look at the chart to see if BNB is still a buy or if a cool-off is coming.
What you'll learn 👉
BNB Price Action Since Mid-August
From mid-August until now the 4-hour chart shows a steady climb that recently turned parabolic. BNB spent the second half of August in a broad range between $860 and $940, occasionally dipping lower but holding a clear series of higher lows. Starting around the first week of September the pace quickened. Buyers began driving price through the $950–$980 zone, and the rally accelerated sharply in mid-September, blasting through $1,000 and running to a high of about $1,084. Each small dip has been bought quickly, leaving very shallow pullbacks and confirming strong demand.
The CoinAnk RSI tells us momentum is running hot. On the 6/12/24 settings, the fast line has pushed into the upper 80s and low 90s, while the slower lines sit well above 70. That’s classic overbought territory on a 4-hour chart. Strong trends can keep RSI elevated for days, but these levels usually lead to at least a sideways pause or a short-term pullback as traders take profit.
Net Long and Net Short Positions
The Net Long data shows steady growth from mid-August through early September and another strong push as the breakout began. That’s a sign of healthy long participation rather than just short covering.
Meanwhile Net Short positions have also crept higher, which can actually support the rally. Shorts that stay open during a breakout are potential fuel for a squeeze, because every new high forces more covers and adds to upward pressure.
Open interest is climbing with price, which is key. Fresh money is entering the market, not just rotating from old positions. The last surge above $1,000 was matched by an uptick in open interest, confirming that the rally is backed by new participation instead of thin liquidity.
BNB Price Prediction for the Next 30 Days
Based on this setup, BNB could trade in a broad $1,000 to $1,120 range in the near term as the market digests the breakout. If momentum stays firm and open interest keeps rising, the next upside targets are $1,150 to $1,200 over the coming month. A more extended rally could even stretch toward $1,250.
If there’s a pullback, the first area to watch is $1,040 to $1,050, the breakout zone that should act as initial support. A deeper retracement might retest the $960–$980 band, which marked the top of the previous consolidation.
Read also: XRP Price Prediction for the Week
Is It Worth Buying Now?
The trend is strong and the fundamentals behind the move – steady long interest and rising open interest – are positive. At the same time, RSI is heavily overbought, so jumping in right at the top carries risk. Traders looking for momentum entries might wait for a clean move and hold above $1,120 or a healthy retest of the $1,040–$1,050 area to see if it flips to support.
In short, BNB’s structure points to more upside in the next month, but after such a steep run, the best entries are likely on pullbacks or confirmed strength rather than chasing today’s highs.
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