- BNB price eyes $2,000 after clearing multi-year resistance between $670–$690 with growing market participation.
- Fibonacci projections are at 1.618 and 2.618 levels in the range of the goals at 1879 and 2,000 dollars.
- Support at $560–$580 is crucial for the preservation of the long-term stress.
BNB is trading near $868 after breaking through long-term resistance, with Fibonacci targets suggesting a potential move toward $2,000. Rising liquidity and a robust breakout structure have placed the asset in focus for traders.
Breakout from Multi-Year Consolidation
The Binance Coin chart shows a multi-year consolidation between 2021 and 2023, with resistance anchored near $670–$690. This is after the breakout in 2020 that pushed the price to its all-time high in 2021 of about $690.
Between 2018 and 2020, we began to consider that $BNB touched cyclical lows at significant Fibonacci retracement levels: 0.786 and 0.618 zones. These sectors yield regular buying power thereby forming a background to massive rallies.
The ongoing escape of the 2021 2023 range implies the start of a growth phase. The measured move suggests a short term goal of 1121 dollars, awaiting more with respect to higher targets.
Technical Targets and Momentum Structure
Crypto Patel shared the chart, stating, “$BNB at $868… and I’m aiming for $2000 next.” His analysis emphasizes growing momentum and liquidity.
Fibonacci extension levels support the projection, with 1.618 aligning near $1,879 and 2.618 around $2,000. These targets are typical in sustained bull market phases.
Volume trends on lower timeframes confirm increasing participation as price moves away from the breakout zone. Sustaining this growth will be key to reaching the higher levels.
Key Levels for Continuation or Reversal
BNB’s is as of writing priced at $846.19, with a daily decline of 0.58% but a weekly gain of 7.59%. Despite the slight dip, the structure remains intact.
The $560–$580 zone is critical support, where failure to hold could delay the bullish trajectory. This level previously acted as a demand area during consolidation.
If price maintains acceptance above $670–$690, the path toward $1,121, $1,879, and $2,000 becomes more feasible. Market watchers are monitoring for continued strength into 2025.
