Can BNB price retake $1K in December?
BNB shows bullish momentum, supported by a double bottom and falling wedge breakout, targeting $1,020–$1,115 in December.Summary
BNB is exhibiting renewed bullish momentum, having bounced over 13% from a local low near $800, and is now targeting a push toward $1,000. Several technical indicators support this outlook: a developing double-bottom pattern on the four-hour chart near $800–$820 suggests fading selling pressure, with a breakout above the $900–$920 neckline potentially leading to a rally toward $1,020 (the 0.382 Fibonacci retracement level).
Furthermore, a significant short liquidation cluster of approximately $112.28 million is positioned near $1,020, which could act as a catalyst, forcing short sellers to buy and accelerating the price upward. Additionally, BNB has broken out of a multi-week falling wedge pattern, whose measured upside target points toward the $1,100–$1,115 region.
However, the bullish setup is contingent on BNB holding above the $900 neckline; failure to do so could invalidate the rally and lead to a drop toward the $860 EMAs. The article emphasizes that this analysis does not constitute investment advice.
(Source：Cointelegraph)