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CoinGape 2025-02-12 17:28:48

Analyst Identifies Key Levels For BNB Price Rally To $800

Crypto analyst Ali Martinez has identified critical resistance levels that could determine whether Binance Coin (BNB) continues its upward trajectory toward $800. His analysis highlights three major simple moving averages (SMA)—the 50, 100, and 200 SMA—that currently act as strong barriers to further price growth. Additionally, he points to the 0.382 Fibonacci retracement level, a historically significant resistance zone where price reversals have occurred. Key Resistance Levels That Could Drive Binance Coin (BNB) Price Higher According to analyst Ali Martinez , BNB price is facing resistance at key technical levels that must be broken to sustain its upward momentum. The 50, 100, and 200 simple moving averages (SMA) serve as strong resistance zones. These moving averages have historically prevented Binance Coin price from advancing further, acting as key decision points. Martinez also highlights the 0.382 Fibonacci retracement level, which aligns with past resistance zones where BNB price has struggled to break through. This level has often led to price pullbacks, making it a crucial area to monitor. If BNB manages to break above this resistance, the asset could experience a stronger push toward higher price targets. Further adding to these challenges, the TD Sequential indicator reveals resistance trendlines and risk lines that have previously signaled trend reversals. Binance Coin needs to break past these levels to avoid a pullback before any further upside movement. Meanwhile, Binance and the U.S. SEC recently filed a joint motion to pause their legal dispute for 60 days. This development has reduced uncertainty around Binance, providing a positive catalyst for BNB price. Binance also unveiled its 2025 roadmap, outlining plans to integrate artificial intelligence and improve transaction speeds, further supporting the bullish outlook for BNB. Binance Coin Gains Despite Crypto Market Downturn Despite the wider crypto market downturn, BNB has maintained its crypto rally, gaining over the past 24 hours. While Bitcoin and Ethereum dropped by 1.5% and 4% in the last 7 days respectively, BNB has gained over 6% in 24 hours and 17% over the past week. The recent increase in BNB price comes amid rising U.S. inflation data. The Consumer Price Index (CPI) report showed a 3% year-over-year increase in January, exceeding economists’ expectations. This inflation spike has impacted major cryptocurrencies, leading to declines in Bitcoin and other assets. However, BNB has remained resilient, continuing its crypto rally despite market uncertainty. On-Chain Growth and Binance Developments Boost BNB Nansen analyst Aurelie Barthere has pointed to strong on-chain activity on Binance Smart Chain (BSC) as a key driver of BNB price gains. BSC’s network fees surged 114% in the past week, contrasting with negative growth seen on other blockchains. This increase in network activity suggests growing demand for transactions on the Binance ecosystem. Moreover, a recent CoinGape report highlighted that Binance coin social media mentions hit an eight-month high amid the TST memecoin rumors. Despite Changpeng Zhao’s denial, the controversy fueled market excitement, driving BNB price surge. Martinez emphasized that overcoming these resistance levels could set the stage for a strong breakout. If BNB price successfully moves past the 50, 100, and 200 SMA, along with the 0.382 Fibonacci retracement level, it could signal the start of a crypto rally toward the $800 target. The post Analyst Identifies Key Levels For BNB Price Rally To $800 appeared first on CoinGape .

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