Binance Coin (BNB) is charging into August with strong bullish sentiment, trading at $804 after a 1.16% daily gain and over 20% growth in the past month. Multiple high-profile analysts are calling for a four-digit breakout, with chart patterns and technical indicators lining up for a potential rally toward $1,000–$1,200.
Why Analysts are Bullish on Binance Coin
Beyond the bullish analogies, BNB’s momentum is underpinned by both macro and ecosystem factors.
Binance remains the world’s largest spot exchange with $18.7B daily volume and unmatched liquidity (930 average score), reinforcing demand for BNB in trading fee discounts, token launches, and staking.
Also, the crypto market’s recent uptick has reignited altcoin rotations, with traders shifting into high-cap, high-liquidity plays like BNB.
Binance Exchange’s quarterly token burns continue to reduce supply, a factor that historically supports upward price pressure.
BNB Price Charts Show Path to $1,200 if $850 Breaks
BNB Coin is currently trading above its 50-day moving average of $777 and its 200-day moving average of $747. The movement of these averages shows good medium-term momentum. Additionally, the 14-day RSI is at 62.29, indicating there is still some space before it reaches overbought levels.
The latest push comes as traders on X (formerly Twitter) compare BNB’s price structure to Bitcoin’s historic breakout cycles.
Popular chartist Ali Charts sees Binance Coin “mirroring Bitcoin’s price structure” in the early stages of a rally that could match BTC’s explosive climb to new highs.
Another analyst, Sjuul from AltCryptoGems, describes BNB’s chart as “one of the most bullish on a high time frame,” eyeing a clean technical path to $950–$1,000.
If Binance Coin clears the $850 resistance, momentum could accelerate toward $950 in the short term. A decisive break above $1,000 would likely trigger FOMO buying, opening the path to $1,200, the level highlighted in Ali’s BTC fractal projection.
Yet, if Binance Coin falls below $777, many might take profits, causing the price to drop to the $740–$750 support area. Also, a drop below $700 could weaken the uptrend and lead to a fall to around $650. Overall market issues or a decline in Bitcoin could also cause short-term price drops.
