BNB Price: BNB Posts Best Week of the Cycle - Can It Hold and Run to $1,190?
TLDR
- BNB broke above $700 in August, gaining nearly 18% in one week
- $725 is the key resistance level bulls need to clear for further upside
- Daily RSI is in overbought territory, above 70โ80 on most readings
- Elliott Wave analysis projects a potential Wave B recovery between $780 and $1,190
- Analyst Rand Group noted that a monthly close above $670 would be a bullish signal
BNB climbed from around $590 in mid-August to above $700 within days, one of its sharpest recoveries this year. CoinGecko data shows the token closed at $707.48 on August 26, with CoinLore placing the August 27 close at $712.16 after an intraday high of $714.88.
The rally pushed BNBโs market cap back toward the $94 billion area. The token is still below its all-time high of $1,373.40, leaving roughly 92% upside to that level from current prices.
The move came as broader market sentiment turned bullish. Big money positioning flipped to โextremely bullishโ on August 25, the first such reading this cycle, according to Benzinga. Bitcoin was pushing $80,000 and the Fear and Greed Index hit its highest reading since January.
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