BNB, the native token of Binance and the largest centralized exchange coin by market cap, has reached a new all-time high of $855. This move cements its position as the fifth-largest cryptocurrency globally and adds strength to the ongoing altcoin rally.

This recent surge marks a turning point for BNB, which has been gaining ground steadily over the past several months. The price jump confirms that the token is now in “price discovery” mode, a phase where no historical resistance levels exist, making the next target a psychological milestone $1,000.

What Sparked the BNB Rally?

Binance’s price rally has been fuelled by a combination of technical strength and broader market optimism. After hitting a low of $504 in February, BNB began to show consistent signs of bullish momentum. Weekly charts revealed long lower wicks, an early indication of strong buying pressure at lower levels.

Since then, BNB has seen a sharp uptrend. The rally accelerated in July, turning parabolic and resulting in the all-time high of $855. Analysts suggest this surge is part of a larger Elliott Wave pattern, which started in May 2022. According to this analysis, BNB is now in the fifth and final wave of the cycle, a stage that often sees the strongest price acceleration.

The structure of the current uptrend also points to the formation of an ending diagonal, a wedge-shaped pattern typically seen at the peak of long-term rallies. If this pattern plays out fully, the next logical price target lies around $1,035 before a potential market correction sets in.

Technical Indicators Support Further Upside

A closer look at BNB’s technical indicators supports the bullish case. On the weekly chart, both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have broken above key resistance trend lines. These are strong signs of growing momentum.

The daily chart further confirms this. Since February, BNB has maintained a steep parabolic trend line. Notably, every time the price has touched this ascending support, most recently in June and July, it has bounced higher.

Currently, Binance is trading well above this parabolic line, which now sits around $770. The RSI and MACD on the daily time frame are still rising, with no signs of bearish divergence. This means momentum remains strong, and there is no immediate signal of a top forming.

How High Can BNB Go?

Based on the current structure, the two most likely resistance points for BNB are $878 and $1,048. The $878 level represents a local extension target, while $1,048 aligns with long-term resistance and the ending diagonal pattern’s upper boundary.

These targets suggest that the rally may continue in the short term, supported by strong technicals and a favourable macro outlook for altcoins. However, once Binance reaches these zones, traders should be cautious of a potential pullback.

It’s important to note that in wave-based analysis, fifth waves often end with a sharp reversal. So, while the token may push higher in the coming weeks, a correction could follow soon after.

BNB’s breakout to $855 is more than just a price milestone, it reflects the token’s strength and investor confidence in the broader altcoin market. With technical indicators and wave patterns pointing higher, the next likely target lies between $1,035 and $1,048.

For now, there are no signs of weakness across key timeframes. As long as momentum continues, BNB’s rally is likely to carry on, making $1,000 not just a psychological target but a probable technical one.

Traders should watch for resistance around $878 and again near $1,035–$1,048. Beyond that, a healthy correction could provide the next big opportunity in BNB’s ongoing uptrend.