The post Binance BNB Price Approaches 7-Year Resistance, Bulls Eye $1,200 Level appeared first on Coinpedia Fintech News
Binance’s native token, BNB, is back in the spotlight as the market tries to settle after weeks of volatility. After falling sharply from its October peak, the token is now showing early signs of recovery, pushing its price above $920.
Psyduenyme crypto analyst notes that BNB is now nearing a key 7-year resistance level, where a breakout could accelerate the move toward $1,200.
BNB Approaches 7-Year Ascending Channel
After last week’s 7% jump, BNB is showing continued bullish momentum. According to analyst Altcoin Pioneer, BNB’s 3-week chart has formed a clear ascending channel that has guided its price for almost 7 years.
Analysts highlight that the token is now touching this major resistance line for the sixth time, an important moment. Every time BNB reached this level in the past, it went on to make higher highs, showing strong long-term demand.
If BNB breaks above the channel with strong volume, analysts believe it could start a powerful multi-stage rally. The first target sits around $950–$1,000, based on the recent price structure.
A stronger breakout could send it toward $1,150–$1,500 by mid-2026 using Fibonacci projections.
Technical Signs Suggest a Breakout Could Be Near
Technical indicators add support to the bullish outlook. The weekly RSI is holding near 58 and shows a bullish divergence, signaling hidden strength despite recent volatility.
The MACD has also confirmed a golden cross, while the Fear & Greed Index sits at 15, reflecting extreme fear in the market.