BNB Aiming for the $1,000 Mark: Will the Giant Binance Spark a Rise Again?

In the context of the crypto market showing signs of recovery, Binance Coin (BNB) is demonstrating significant strength by maintaining stability at the support zone of $605 and is preparing for a new bullish phase. With active technical support, BNB may be on its journey towards the important resistance level at $1,000 in the long term. BNB is Creating a Recovery Momentum After establishing a support zone around $600, the price of BNB has started to recover strongly. The BNB/USD pair is currently trading above the $612 threshold and is above the 100-hour moving average, indicating that the short-term trend is leaning towards bullish. Notably, a bullish trend line has formed on the hourly chart, with support around the $622 level. This is a positive sign indicating that the bulls are still in control of the situation and preparing for a new breakout. Important Resistance Levels Currently, BNB is facing resistance near $628 and a higher level at $630. If the price decisively surpasses $630, it is likely to trigger a new bullish move towards $642. A stable candle close above $642 could pave the way for a stronger bullish momentum, bringing the price closer to the next resistance levels such as $650 and even $655 in the near future. Adjustment Risk If $630 Is Not Maintained On the contrary, if BNB cannot break through the resistance level of $630, the price may adjust back. The nearest support is at the zone of $622. If this level is broken, the next important support will be $612 — which is also the 50% Fib level of the increase from $597 to $629. If the price falls below $612, the risk of a deeper drop to $605 and $600 will increase. Technical Indicator Support for Bullish Momentum Hourly MACD: Moving within the positive zone, supporting the bullish trend. Hourly RSI: Above 50, indicating that the bullish momentum is still in effect. Conclusion BNB is showing quite positive technical signals. Maintaining the support zone of $612–$622 will be the key to establishing a new bullish trend. If it surpasses $630 and especially $642, the price of BNB has the potential to reach higher levels in the short term, from $650 to $655. In the long term, if the market continues to maintain its recovery and the influx of capital is strong, the $1,000 mark could very well become the next target of the giant Binance.