BNB Mirrors Bitcoin’s Rally—$1,200 Breakout Incoming?
BNB's chart is pulling a Bitcoin—bulls eye a blistering run toward $1,200 as the crypto mimics its big brother's playbook.
History rhyming or repeating? The Binance Smart Chain heavyweight flirts with a pattern that sent BTC soaring last cycle. Same setup, different ticker.
Technical déjà vu. Symmetrical triangle? Check. Whale accumulation? Check. Liquidity pools primed for volatility? Double-check. All that's missing is the explosive candle.
Regulators hate this one trick. While TradFi struggles with paperwork and 'approved' ETFs, BNB bypasses gatekeepers—again. Some things never change in crypto's wild west.
Target locked. A clean breakout could send prices toward $1,200 faster than a degenerate leverages 100x. Just don't tell the SEC.
Technical Patterns Suggest BNB Could Surge By Over 50%
In an X post on August 9, Ali Martinez highlights upside potential in the BNB market after weekly price data from TradingView suggests the altcoin is replicating Bitcoin’s price movement. Notably, the premier cryptocurrency is currently trading at approximately $116,769, having recently broken through multiple key resistances at $82,500, $95,000, and $110,000.
From the chart above, the similarities between BNB and Bitcoin’s price are easily seen moving through phases of accumulation, breakout, and rapid expansion.
For BTC, traders can observe a prolonged sideways range between mid-2022 and 2023, fluctuating between roughly $15,000 and $25,000, before a steady climb accelerated sharply past the $70,000 and $82,500 resistance in late 2024. Thereafter, the crypto market leader surges towards higher price targets at $95,000, $110,000, and $120,000.
Interestingly, BNB’s trajectory mirrors this pattern, with a long consolidation between $200 and $350 from 2022 to 2023, followed by a breakout above $450 and a decisive MOVE past $700 in 2024. Presently, the altcoin finds itself trading at minor resistance at $800, similar to the $80,000 level in the BTC market.
If the parallel continues, clearing the mid-cycle resistance at $700 should unleash a strong bullish momentum, which easily pushes BNB towards $950. Thereafter, the cryptocurrency may experience an intense correction, falling to around $777, before climbing towards $1,200 to produce a 50% gain from current market prices.
However, while chart similarities offer compelling insights, they do not guarantee identical outcomes. Macroeconomic conditions, regulatory events that affect Binance could impact the BNB’s rally. Alternatively, the potential of an impending altseason may cause BNB to deviate from the observed parallel performance, causing the altcoin to outperform Bitcoin.
BNB Price Overview
At press time, BNB trades at $810 after a slight 1.78% gain in the last 24 hours. On larger timeframes, the digital asset also remains in profit with price increases of 8.57% and 19.04% on the weekly and monthly charts, respectively. This performance suggests that BNB traders are largely maintaining a bullish outlook, with buying interest persisting across both short- and long-term horizons as momentum continues to build.
Meanwhile, with a market cap of $112.36 billion, the Binance Coin continues to rank as the fifth-largest cryptocurrency and fourth-largest altcoin in the market.
