Binance Coin Price Dips Below $1,000 but Long-Term Charts Signal Fresh Upswing
Binance Coin (BNB) dropped below $1,000 amid selling pressure, but analysts see long-term charts suggesting a potential rebound toward $1,894 and $5,000.Summary
Binance Coin (BNB) recently fell below the $1,000 threshold, experiencing an 8% decline to trade near $989.20 due to increased selling activity, with trading volume surging to $3.95 billion.
Despite this short-term pressure, analysts maintain that BNB's broader structure remains resilient, holding above the critical $950–$970 support zone. One analyst noted that the current pullback appears to be a healthy consolidation above long-term Exponential Moving Averages (EMAs).
Furthermore, an Elliott Wave projection by Crypto Patel suggests a long-term path toward $4,075–$5,000, with the current correction near the wave (4) support region potentially serving as a springboard for the next impulse wave targeting $1,894. Technical indicators like the RSI show temporary weakness, but the overall consensus is that the long-term trend structure supports an eventual recovery once selling subsides.
(Source：Brave New Coin)