6 Minutes
BNB breaks $1,100 as bullish momentum accelerates
BNB (BNB) surged to a fresh all-time high of $1,110.9 on Oct. 3 Asian session, clearing the previous peak of $1,076 set just two weeks earlier. Trading near $1,100 at the time of reporting, the token now sits roughly 31% above last month’s low and more than 100% higher than its lowest price this year, reflecting a powerful multi-month bull run. Strong macro appetite for risk assets this October — paired with crypto-specific catalysts — has underpinned investor demand across the Binance ecosystem.
Technical outlook: bullish continuation pattern points to further gains
The daily technical picture remains supportive of additional upside. Since late June, BNB has climbed out of a prolonged consolidation and decisively reclaimed key resistance at $797.70, a level that capped the token in December. Price action has moved above all major moving averages, and the 50-day SMA recently crossed above the 200-day SMA, producing a classic golden cross — a signal historically associated with extended rallies for weeks or months.
Furthermore, BNB has been contained inside an ascending parallel channel on the daily chart. This channel acts as a bullish continuation pattern: when an asset trades between two upward-sloping, parallel trendlines, it typically signals a sustained uptrend and the potential for progressive higher highs so long as the price respects the lower trendline.
BNB price trades within a bullish continuation pattern on the daily chart
A clean breakout above the channel’s upper trendline would be a strong confirmation of accelerating momentum and often precedes sharper moves higher. Momentum indicators reinforce the positive case: the MACD is trending upward with expanding green histograms, and the Aroon indicator shows Aroon Up at 100% versus Aroon Down at 50%, a configuration that reflects dominant buying pressure over selling.
.avif)
BNB Aroon chart — Oct. 3
Short-to-medium targets based on technical structure
Given current momentum and typical seasonal strength for crypto in October, BNB appears poised to test the $1,200 psychological resistance next. A sustained breach of $1,200 could embolden bulls to push toward a higher extended objective near $1,550, a level calculated using extended Fibonacci retracement techniques and representing roughly a 41% upside from the price at the time of the record.
Risk management remains essential: a decisive close below the channel’s lower trendline or the 50-day SMA would invalidate the most optimistic scenarios and could open a correction toward prior support levels.
Ecosystem fundamentals and on-chain metrics supporting the rally
Beyond charts, several fundamental catalysts are supporting bullish sentiment for BNB and the BNB Chain. Technical upgrades to the network and renewed developer and user activity are lifting both on-chain metrics and investor confidence.
First, recent protocol upgrades on the BNB Chain have reduced the minimum gas price to 0.05 Gwei, improving transaction economics and encouraging deeper usage for DeFi and NFT activity. Additional upgrades are expected in coming months, creating a forward-looking narrative that traders are pricing in.
Second, on-chain activity has picked up materially. Leading BNB Chain projects such as Aster and PancakeSwap have recorded strong engagement over the past weeks, driving a notable uptick in network metrics. According to DeFiLlama, the total value locked (TVL) on BNB Chain rose to $14.67 billion — a 2.2% increase in 24 hours — while stablecoin supply on the network increased from $11.5 billion to $13.46 billion over the prior week. Active addresses climbed to 2.31 million, an 8% daily rise, and network fee revenue surged to $4.41 million, with a large portion attributed to PancakeSwap trading activity.
These on-chain improvements reinforce the real-utility story for BNB, which is increasingly being adopted both as a medium of exchange within the ecosystem and as a treasury asset by institutional and corporate holders.
Institutional flows and ETF optimism
Investor expectations for a spot BNB exchange-traded fund in the U.S. have strengthened recently, after the SEC withdrew delay notices on multiple ETF applications. Market participants are now pricing a near-certain chance of a green light for a spot BNB ETF, which would likely attract fresh institutional capital and broaden BNB’s liquidity base.
Separately, corporate treasuries are beginning to add BNB to their crypto holdings. China-based Jiuzi Holdings disclosed plans to include BNB in a $1 billion crypto treasury allocation, while Kazakhstan’s state-backed Alem Crypto Fund — reportedly launching in partnership with Binance — is said to be considering BNB as its initial portfolio asset. Such institutional and sovereign-level interest can materially support price discovery and reduce supply pressure.
What traders should watch next
Key levels to monitor include the immediate resistance zone at $1,200 and the higher target area near $1,550 in the event of a breakout. On the downside, maintaining the ascending channel’s lower boundary and the 50-day moving average will be crucial for bulls to preserve the uptrend. Traders should also watch liquidity, volume, and ETF-related filings for sudden shifts in market sentiment.
Overall, a combination of bullish technicals, improving on-chain fundamentals, and growing institutional interest paints a constructive near-term outlook for BNB. However, prudent position sizing and risk controls remain essential in a market that can experience rapid sentiment reversals.
Source: crypto
Leave a Comment