The BNB price is showing remarkable bullish strength

The BNB price is showing remarkable bullish strength on the weekly chart, with technical signals aligning for a potential surge to $1,000.

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The BNB price is showing remarkable bullish strength on the weekly chart, with technical signals aligning for a potential surge to $1,000. The altcoin has not only broken resistance levels but is currently maintaining a stronghold above the 50-week Exponential Moving Average (EMA).

This forecast, published in an analysis report by TradingView crypto expert Unichartz, notes that the BNB price action has broken above a long-standing descending resistance line, highlighted in red on the chart. The breakout from this downtrend signals the end of a multi-month consolidation phase and a potentially imminent trend reversal.

Chart by Unichartz

More notably, the cryptocurrency has reclaimed a historical support-resistance zone marked in the shaded gray area on the chart. This key level, previously a battleground for bulls and bears, could serve as a launchpad for further gains, reinforcing the bullish structure of the BNB chart.

Moving forward, the 50 EMA (orange line) has repeatedly acted as a dynamic support for the BNB price during pullbacks. The TradingView analyst revealed that on multiple occasions, BNB bounced off this moving average, confirming it as a reliable foundation for a potential rally.

As long as the price continues to trade above this 50 EMA and within the reclaimed zone, Unichartz’s outlook for BNB remains optimistic. With sustained bullish momentum, a retest of the all-time high zone around $793 is likely. A successful breakout above this level could trigger a 45.99% climb toward the psychological $1,000 mark.

BNB Bulls In Control As Price Aims For Fresh Breakout

Market analyst Wise Crypto has issued a bullish forecast for the BNB price, anticipating a massive breakout that could see the altcoin surge above $700 soon. According to the analyst, several technical indicators and bullish developments are aligning in favor of this projected price surge.

“#BNB bulls finally took over. The market trend is showing strength now. Technicals are also turning positive. Moreover, #Binance Coin’s DEX volume is surging rapidly. In the past week alone, it saw a remarkable 85.66% increase.”

On the technical side, Wise Crypto pointed to indicators like the EMA, DMI, and Ichimoku Clouds flashing bullish. Fundamentally, the analyst emphasized Binance Coin’s growing Decentralized Exchange (DEX) volume.

Notably, BNB’s DEX volume has skyrocketed by an impressive 85.66% increase within one week. The DEX trading volume saw a rise of about $34.85 billion, placing it well above its major competitors, Ethereum and Solana.

Moreover, Wise Crypto has declared that BNB bulls have finally taken control, with the market trend demonstrating strength. Supported by positive technical indicators and growing DEX volume, the BNB price is expected to climb approximately 2.21% from its current price of $684.85 to reach $700 in the near term.