BNB has cleared the $1,050 mark with a strong cup-and-handle breakout, putting bulls firmly in the driver’s seat. The next big question: can momentum carry the token toward the $1,100 target?
BNB Breaks $1,050, Extending September Momentum
Crypto analyst Cipher X, in a recent update, emphasized that BNB has officially broken through the $1,050 mark, locking in yet another key milestone following its impressive September rally. The surge has not only reaffirmed the strong bullish momentum behind the asset but also positioned it as one of the standout performers in the market.
Looking ahead, Cipher X pointed out that the next major focus lies on the $1,100 resistance zone. A decisive breakout above this point could pave the way for even greater upside into Q4, strengthening the narrative of BNB entering a new leg of its rally. With market sentiment leaning positive, the price action over the coming days will be crucial in confirming whether the momentum can move forward without major setbacks.
On the flip side, support remains well-established around $1,000 and $900, levels that provide a strong safety cushion for bulls should the market experience a pullback. These zones have historically held firm and could act as reliable springboards for fresh upward moves. For now, the balance of power is clearly with the buyers, and unless unexpected volatility disrupts the trend, BNB seems poised to continue pressing higher into the 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 observed that BNB was developing a classic Cup and Handle formation, a technical pattern often associated with bullish continuation and breakout potential. Such a setup, when confirmed, tends to signal that the market has been consolidating before building enough momentum to push higher.
Asghar stressed that the key level to watch is the $1,030 neckline resistance, which acts as the ceiling for the token’s upward momentum. A clean breakout and strong close above this resistance would validate the pattern and likely invite additional buying pressure. Should the breakout succeed, Asghar projected that BNB could quickly extend toward the $1,100+ region, opening doors for even larger gains if bullish sentiment sustains.
However, until that confirmation arrives, he advised caution, noting that any failure to overcome the neckline might trigger short-term pullbacks as the asset consolidates further. This makes the coming sessions crucial in determining the altcoin’s next directional move.
Credit: Source link