Binance Coin outpaces broader crypto market as traders eye $1,000 target
Binance Coin (BNB) surged sharply after reports suggested that Binance may be nearing a deal with the U.S. Department of Justice (DOJ) to end compliance monitoring, boosting investor sentiment and sparking a breakout above key resistance levels. The token is now trading around $946, marking a 26% monthly gain and outperforming the broader crypto market, which has been cautious ahead of the Federal Reserve’s upcoming interest-rate decision.
The daily chart shows that BNB has been climbing along an ascending trendline, with strong support zones forming between $860 and $820. The breakout from this consolidation has positioned the token just below the psychological $1,000 barrier, which many analysts view as the next major resistance.
According to BITX crypto strategists, “BNB’s price structure is constructive. As long as it holds above $860, the probability of retesting $1,000 is high. A close above that level would open the door toward fresh record highs.”
The news of a potential DOJ settlement has eased long-standing regulatory concerns, giving Binance Coin a unique advantage compared to other large-cap cryptocurrencies. At the same time, trading volume has increased, confirming that market participants are backing the rally with strong conviction.
According to BITX analysts, “BNB is benefiting from both improving sentiment around Binance’s legal clarity and a favorable technical setup. While macro uncertainty from the Fed remains, BNB has clearly decoupled from broader market hesitation.”
For now, BNB remains bullish, with immediate support seen at $860–$820. If sellers step in, deeper retracements toward $740 or $680 cannot be ruled out. However, momentum remains firmly in favor of buyers as long as the token sustains its uptrend.
Traders will be watching closely to see if BNB can break above $1,000, a move that would likely trigger a fresh wave of buying interest and further establish the token as one of the strongest performers in the market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.