After a relentless rally, Binance Coin (BNB) is taking a breather. The token has dipped 1.5% in the past 24 hours, now trading around $877. But don’t mistake this for a breakdown. This looks like a scheduled pause, not a derailment, with BNB still poised for a potential run into four-digit territory.
The Bullish Fundamentals: HODLers Are Loading Up
The most compelling bullish signal isn’t on the price chart—it’s in the wallet data. HODL wave metrics, which track how long investors hold their coins, show powerful accumulation across key groups:
- 1-2 Year Holders: Increased holdings from 6.55% to 7.52% of supply.
- 3-6 Month Holders: Surged from 1.62% to 7.30%.
- 1-3 Month Holders:Â Saw a slight increase.
Critically, this accumulation is happening during a price rally. This shows deep conviction; investors aren’t waiting for a dip. They’re buying into strength because they believe in much higher prices ahead.
Futures Market Adds Fuel to the Fire
The spot market isn’t alone in driving momentum. BNB futures open interest has climbed steadily, hitting a 3-month peak of $1.27 billion.
High open interest means leveraged traders are piling in, which can amplify moves in both directions. If bulls maintain control, a wave of short liquidations could easily propel BNB past its all-time high and into a powerful breakout.
BNB Price Prediction: The Path to $1,000
Technically, BNB is at a critical juncture. It’s testing major resistance just below its all-time high of $899.
- The Bullish Breakout Scenario: A decisive daily close above $899 could trigger a momentum surge toward $922 and then $952. The first major four-digit target sits at $1,038.
- The Key Support Level: The entire bullish thesis depends on BNB holding above $812. A break below this level would signal a deeper correction is underway.
The Bottom Line
The combination of strong HODLer accumulation and rising derivatives interest creates a powerfully bullish setup for BNB. While short-term pullbacks are normal, the underlying fundamentals suggest this rally has much further to go. For investors, any dip toward support could be a potential opportunity before the next leg up toward $1,000.
