Binance price surged above $1,000 after breaking a descending channel, signaling strong buying momentum.

Analysts highlight key support at $1,000 and a possible retest at $970. With a major short squeeze fueling gains and increasing trading volume, BNB shows potential for extended upside toward the $1,500–$2,000 range this year.

Breakout Above $1,000 Sets the Tone

Binance Coin has broken out of a descending channel, moving firmly above the $1,000 level after recovering from recent downtrend pressure. Analyst Crypto Alucard observed that the breakout over $1,010 signals strong buying activity, with price action currently consolidating near $1,000. This zone is now viewed as a key area for traders monitoring the next market move.

According to the analyst, two near-term scenarios are possible. The first is to convert $1,000 into solid support, creating a foundation for further gains. The second scenario involves a retest of the breakout point near $970 before any upward continuation. Both outcomes point to confirmation of the breakout’s strength, provided bullish momentum continues to hold.

Analysts Target $1,500–$2,000 Range for 2025

Crypto Alucard noted that if current momentum persists during what he refers to as “CZ season,” Binance could reach a price range of $1,500 to $2,000 within this year. He pointed to the confirmed breakout and rising trading volumes as supportive factors for a possible extended rally. This outlook emphasizes the asset-sustaining its position above the $1,000 level to preserve the upward trajectory.

BNBUSD Chart | Source:x

The move beyond $1,010 and the ability to keep trading volume elevated provide technical evidence of strong market participation. Maintaining these conditions would give the asset the structure needed for a steady climb toward the projected higher targets.

Short-Squeeze Drives Rapid Upside

Analyst CW reported that Binance experienced a major short-squeeze during the latest surge. Order-book data showed a rapid price rise from the mid-$900 range to above $1,020, with dense buy orders below and thinning sell walls above. CW explained that high-leverage short positions were forced to exit, leading to liquidations that accelerated the price move upward.

BNBUSD Chart | Source:x

This sequence of events created a feedback loop where forced buy-backs increased buying pressure. The liquidity zones around $960 and $930 served as bases for the move, while persistent bids kept absorbing supply and lifted prices higher. The aggressive unwinding of shorts added momentum that pushed the altcoin firmly through the $1,000 mark.

Market Metrics and Trading Outlook

The cryptocurrency traded around $997.74, reflecting a 2.73% gain over 24 hours. Market capitalization stood near $138.8 billion, with trading volume reaching $1.43 billion. Chart data indicated a strong rally beginning late on September 28, when the asset advanced from the $970–$980 range to a brief peak above $1,010 before easing slightly.

BNBUSD 24-Hr Chart | Source: BraveNewCoin

Despite some late-session consolidation, the asset retained an upward bias. Sustaining price action near $1,000 will be critical for buyers seeking to extend the advance. Should the price dip below $980, a retest of earlier supports near $960 could follow, while a decisive push above $1,010 would strengthen the existing bullish structure and leave room for a continued run toward the $1,500 to $2,000 range projected by analysts.