BNB Cup-And-Handle Breakout Powers Past $1,050, A Move To $1,100 Next?
BNB has cleared the $1,050 mark with a robust cup-and-handle breakout, placing bulls firmly within the driver’s seat. The subsequent massive query: can momentum carry the token towards the $1,100 goal?
BNB Breaks $1,050, Extending September Momentum
Crypto analyst Cipher X, in a current update, emphasised that BNB has formally damaged via the $1,050 mark, locking in yet one more key milestone following its spectacular September rally. The surge has not solely reaffirmed the robust bullish momentum behind the asset but additionally positioned it as one of many standout performers out there.
Looking forward, Cipher X identified that the following main focus lies on the $1,100 resistance zone. A decisive breakout above this level might pave the way in which for even larger upside into This fall, strengthening the narrative of BNB getting into a brand new leg of its rally. With market sentiment leaning optimistic, the worth motion over the approaching days shall be essential in confirming whether or not the momentum can transfer ahead with out main setbacks.
On the flip facet, support stays well-established round $1,000 and $900, ranges that present a robust security cushion for bulls ought to the market expertise a pullback. These zones have traditionally held agency and will act as dependable springboards for recent upward strikes. For now, the stability of energy is clearly with the patrons, and until sudden volatility disrupts the development, BNB appears poised to proceed urgent greater into the brand new quarter.
Cup and Handle Formation Signals Strength
Earlier, market analyst Kamran Asghar highlighted a notable setup forming on the BNB 4-hour chart in a post on X. He noticed that BNB was creating a basic Cup and Handle formation, a technical sample usually related to bullish continuation and breakout potential. Such a setup, when confirmed, tends to sign that the market has been consolidating earlier than constructing sufficient momentum to push greater.
Asghar confused that the important thing degree to observe is the $1,030 neckline resistance, which acts because the ceiling for the token’s upward momentum. A clear breakout and powerful shut above this resistance would validate the sample and sure invite further shopping for strain. Should the breakout succeed, Asghar projected that BNB might rapidly lengthen towards the $1,100+ area, opening doorways for even bigger positive factors if bullish sentiment sustains.
However, till that affirmation arrives, he suggested warning, noting that any failure to beat the neckline would possibly set off short-term pullbacks because the asset consolidates additional. This makes the approaching periods essential in figuring out the altcoin’s subsequent directional transfer.
