BNB has broken above a key resistance level, confirming a double bottom pattern that could send the token to $780, according to a technical analysis posted on TradingView. The setup, identified by crypto analyst Melikatrader94, shows price clearing the neckline between $680 and $690 — a move that historically signals a trend reversal.
The Setup
The double bottom on BNB’s daily chart is a textbook reversal pattern. Price hit a low, bounced, then retested that same low before turning higher. The neckline at $680-$690 acted as the final barrier. Now that BNB is trading above it, the pattern is confirmed. The analyst also points to the Relative Strength Index (RSI), which is printing higher lows — a sign that buying pressure is building even as price consolidates.
Price Targets
From the breakout level, the measured move targets $780. That’s the base case. If momentum keeps up, Melikatrader94 sees a more optimistic scenario where BNB reaches $1,000. That would require the rally to hold above the neckline and attract sustained volume. For now, the immediate resistance is cleared, and the path higher is open — assuming the broader market cooperates.
Momentum Check
The RSI higher lows are the key detail here. They show that each dip in price saw less selling pressure and more aggressive buyers stepping in. That’s the kind of divergence that gives technical analysts confidence in a breakout. It doesn't guarantee the move, but it shifts the odds. The next few days will be critical — if BNB can hold above $690, the $780 target becomes the next real test.
