BNB Price on the Rise: $900 Target in Sight as Golden Cross Forms

The BNB price has been steadily increasing from around $538 in recent months and reached as high as $780.49 on September 5 before pulling back to the mid-$700s.

Currently, BNB is trading around $740-$755, with several technical analysts highlighting $730-$745 as an important support region and $770 as a major resistance level.

Analyst @Garreett_G describes the BNB chart as 'technically constructive,' with the $730 area emerging as an important level for the next phase of the move. A successful retest of this zone would allow the price to preserve the higher-low structure established during its recent recovery.

Additionally, analyst DrDovetail points to a separate technical development: BNB has moved above a descending channel while also registering a golden cross.

The golden cross is a formation where a shorter-term moving average moves above a longer-term moving average, generally viewed as evidence that momentum has shifted in a more constructive direction.

DrDovetail believes that if the broader altcoin market enters a sustained rally, $900 seems likely. However, this level also potentially serves as the right-shoulder zone of an inverse head-and-shoulders pattern.