Based

bullish

Coin

<p>Approaching the $600 psychological mark, the Binance Coin (BNB) price is nearing a crucial crossroads. The months-long resistance remains the key bearish level in the daily chart, keeping the bull run on hold.&nbsp;</p>  
<p>Will the recent bull cycle lead to a breakout rally to $800? Let’s find out in Coinpedia’s BNB price analysis.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-binance-coin-bnb-performance">Binance Coin (BNB) Performance</h2>  
<p>In the daily chart, the BNB price action reveals a rising support trend line, keeping the bullish growth in check. The BNB price is challenging a crucial resistance zone near the $600 psychological mark, leading to higher high formations.&nbsp;</p>  
<p>Since June, the resistance zone has kept the BNB price under check, leading to multiple bearish reversals. The BNB price took support at $464, driving the sideways trend.&nbsp;</p>  
<p>However, the rising underlying bullishness leads to a lower formation, creating an ascending triangle pattern. Currently, the bull cycle within the triangle pattern, accounting for three consecutive bullish candles with a 5.78% jump, challenges the supply zone.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/17135749/CkWDrYPp-1024x511.png" alt="" class="wp-image-368171">
</figure>  
<p><a href="https://www.tradingview.com/x/CkWDrYPp/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>However, the intraday pullback of 0.67% with higher price rejection warns of another bullish failure. Further, as the BNB price approaches the apex of the pattern, the broader market anticipates a breakout rally.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-technical-indicators-support-breakout">Technical Indicators Support Breakout</h2>  
<p>With the crypto market on a bullish note, the BNB price is expected to surpass the $600 psychological mark after taking support from the rising trend line. Increasing the possibility of a bullish breakout, the 50-day and 200-day AMA maintain a positive alignment and provide dynamic support.&nbsp;</p>  
<p>Furthermore, the MACD and signal lines have recently given a bullish crossover with a surge in positive histograms. Hence, the technical indicators reveal a surge in underlying bullishness, increasing the possibility of a breakout.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-will-binance-cross-600">Will Binance Cross $600?</h2>  
<p>Based on the Fibonacci level, the uptrend has surpassed the 50% Fibonacci level at $587, but the critical level remains the $600 mark. The ascending triangle breakout is likely to challenge the 78.60% or 100% levels at $658 or $711 by the end of the month.&nbsp;</p>  
<p>In the longer term, the 1.618 Fibonacci level at $863 stands as a potential target for the lower end if the crypto market continues the bullish trend. On the flip side, the crucial support below the 50-day EMA is 23.60% Fibonacci level at $522, slightly below the 200-day EMA at $535.</p>  
<p>Curious to know if the BNB price will hit $1,000. Check out Coinpedia's <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Binance coin (BNB) price prediction </a>now.</p>

Will Binance Coin (BNB) Price Hit $863 Upon $800 Breakout?

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