- BNB bounces from the golden pocket Fibonacci retracement at $1.02.
- Price aims to reclaim pdEQ at $1.116 as the next bullish trigger.
- Volume surges 12%, complementing growing momentum in the BNB Chain ecosystem.
Binance Coin (BNB) is showing promising signs of a breakout, according to a detailed chart analysis shared by crypto analyst Carl Moon on X. The chart, highlighting the BNB/USDT pair on a 1-hour timeframe, indicates that BNB has recently bounced from the “golden pocket”—a key Fibonacci retracement zone between 0.618 and 0.786, around the $1.02 level.
This bounce suggests strong support and potential for an upward move. Currently trading near $1.107, BNB is eyeing a reclaim of the pdEQ (previous day equilibrium) level at $1.116, a critical threshold for confirming bullish momentum.
Key Resistance and Target Levels to Watch: $1.116, $1.143, $1.198
Moon outlines a clear roadmap for traders, with the first target set at pdHIGH ($1.143) and a second take-profit (TP) target at pwEQ ($1.198). The golden pocket bounce, combined with a recent 12% volume spike and growing buzz around the BNB Chain ecosystem, supports the case for an imminent breakout.
However, traders should watch for a dip risk to the $1.10 support level if the pdEQ reclaim fails. The chart’s technical setup, including moving averages and Fibonacci levels, aligns with a bullish outlook, potentially positioning BNB to outperform other altcoins in Q4.
Risk Management: Support Levels and Possible Retracement
This analysis comes amid BNB’s evolution from a simple exchange token to a cornerstone of the BNB Chain, with its supply reduction via the Auto-Burn system adding long-term value. As the crypto market anticipates altcoin season, BNB’s performance could set the tone. Traders are advised to monitor volume and news closely, as a successful pdEQ reclaim could ignite a rally toward the $1.20 range by month-end.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
