TLDR
- BNB forms a bullish pennant above the $1,070 support.
- Analyst plans to add positions near the quarterly open.
- Targets include $1,416, $1,683, and $1,899 on potential breakout.
- BNB Chain daily active users hold steady around 2.6M.
Market analysts remain bullish on $BNB, citing a bullish pennant on the four-hour chart and adding that they began scaling into swing longs. The analyst’s comments follow a sharp rally earlier this month to above $1,300 and a subsequent pullback into a tight range.
Pennant Takes Shape After BNB Price’s Early-October Spike
Looking at the bullish pennant, we see that it anchors the upper boundary from the lower highs. The highs were printed after the October 10–14 advance that topped north of $1,300. From there, candles formed a succession of lower highs into October 15–21, creating a clean descending trendline. Price now sits near $1,070–$1,080, directly above a flat base that has repeatedly caught intraday dips across October 18–21.
The pennant’s lower boundary is horizontal, reflecting buyers defending the same area several times. Those defenses include a long downside work around October 18 and several tests October 19–21 that failed to close below the base. The structure therefore shows range compression.
The compression includes narrowing highs against steady support. On the four-hour timeframe, compression often precedes range expansion, up or down. The analyst framed it as a bullish continuation setup and warned that fading strength has repeatedly proven costly in recent BNB advances.
The BNB price has respected a short-term nine-period simple moving average (SMA) only intermittently during the pullback. Most candles since October 16 have traded below the SMA, consistent with consolidation rather than trend resumption. That context helps explain the tweet’s focus on the pennant boundaries rather than momentum overlays.
The upper pennant line currently intersects around $1,110–$1,120 on the four-hour chart. The lower boundary aligns with $1,060–$1,070. A sustained four-hour close above the descending line would invalidate the series of lower highs that began after the October 10–14 spike. Conversely, a decisive close below the base would mark the first break of this month’s defended floor.
BNB Price’s Swing-Long Plan and Quarterly Open
Looking at more BNB price charts by analysts, we see that the quarterly open line appears around $1,058–$1,060. This aligns closely with the pennant base on the first chart. That confluence adds clarity to the trader’s plan: initial entries on compression, with adds at the quarterly open if tested.
This BNB price chart also plots measured upside reference levels. A first take-profit band (T1) sits near $1,416, which corresponds to the local high area from October 13–14 and the breakdown pivot during the retrace. Two further reference lines are drawn around $1,683 (T2) and $1,899 (T3).
4-hour BNB/USD Chart | Source: X
An extended line appears near $2,148 at the top of the fib grid, labeled with a question mark rather than a firm target. These levels function as historical resistance shelves from prior impulse legs and Fibonacci retracements, not guarantees. The chart’s risk box extends down through the $900s, illustrating where the long thesis would be invalidated on that trader’s plan.
BNB Daily Active Users Tick Higher
A third graphic provides BNB Chain Daily Active Users (DAU) from early August through late October. The line oscillates with several sharp swings, including a late-August data outlier, before stabilizing in September and rising into October. The most recent reading shows approximately 2.6 million daily active addresses, marked +6.7%.
BNB On-chain Data | Source: Artemis
The early-October growth in DAU overlaps with the price rally into October 10–14, offering contextual participation data rather than a causal claim. After mid-October, DAU retraced from a local peak above 3 million, yet the 2.6 million count remains higher than the September troughs, suggesting engagement has cooled from the spike but stays elevated relative to earlier weeks.
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