Is Binance Coin (BNB) Price Ready to Skyrocket? Expert Predicts a Surge to $1300 as New All-Time Highs Loom – Here’s His Outlook
Analysts are predicting further big upside for Binance Coin (BNB) as it appears poised for another extended bull run. Top crypto analyst Kaleo, believes BNB is following a well-defined cycle that has preceded all its major rallies against Bitcoin.
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The reclaim phase
In a series of tweets, Kaleo explained that BNB typically establishes a base trading range before briefly breaking below and reclaiming lost ground. “This has acted as the launchpad for the crypto to catapult significantly higher over the following weeks,” he stated. The trader noted that the best entry point for investors looking to capitalize on such moves has consistently been right after BNB re-establishes its base.
According to Kaleo’s analysis of BNB’s price action, the cryptocurrency now finds itself in precisely that reclaim phase. He expects history to repeat, forecasting BNB will “gigasend to new all-time highs” in the coming sessions. Kaleo believes a potential upside target of $1300 is within reach, a rise of over 125% from current levels.
Notably, Kaleo’s prediction is backed by both on-chain metrics and technical indicators remaining bullish. Binance Smart Chain continues minting new users and developers at a rapid pace, driving further utilization of BNB across the expanding ecosystem. From a technical standpoint, BNB’s dominance among altcoins has been steadily climbing and it just broke above a long-term resistance zone on its Bitcoin pair chart – indicators that more upside is to come.
New all-time high expected
Other analysts also concur that new record highs are impending. Analyst Crypto Tony, remarked “new ATHs are coming for #BNB”. Given BNB’s reliably bullish structure during previous cycles, there is justification to the optimism. Its last phase of range-break and exponential growth in April saw prices rise over 200% within a month.
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Show more +Trading around $578, BNB is down lately after consecutive weeks of strong gains. However, with the underlying long-term structure remaining decisively bullish as per various measures, many are viewing this as a mere consolidation before its next parabolic move higher. Should history repeat, BNB seems well-positioned to surge past its old peak and approach Kaleo’s $1300 target in the weeks ahead.
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