Binance Coin (BNB) has been trading sideways in the last four days. However, as of this writing, it has breached below a key Exponential Moving Average (EMA) on the daily chart. Nonetheless, a look at its key on-chain metrics and an analyst’s take reveals that BNB price could hit cross the $1,000 target.
Analyst Forecasts BNB Price To Cross $1,000
In a recent posting on his X page, Popular influencer Rose Premium Signals’ Charts targets a price above $1,000. According to the analyst, BNB price has broken out of a falling wedge, which could usher in a temporary pullback before triggering a bullish rally to $1,048.
As per the analyst’s weekly chart, the coin is likely to correct after rejection at the psychological $660 mark. As its trading volume continues to drop, the onset of a weaker upside traction could open up the pathway to decline sharply to $508 in the medium term.
However, if BNB price manages to bounce back to its current levels shortly after, the resulting momentum cou
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