Binance Coin Price Prediction: BNB/USD Targeting $2000 in Q4

The Binance Coin (BNBUSD) Accumulation Phase

The Binance Coin (BNBUSD) has been accumulating since early March (March 11 candle), trading sideways within the Mayer Multiple Bands (MMB) Mean (black trend-line) and the 1st SD above (grey trend-line). The 1W MA50 (blue trend-line) has been the support since the late December 2023 bullish break-out.

Support and Previous Cycle Comparison

The 1W MA50 should continue to act as support throughout the remainder of the Bull Cycle. This was also the case during the previous Cycle when BNB experienced the final accumulation phase (blue ellipse) from September to December 2020, again within the same MMB zone. This initiation led to the most aggressive part of the Cycle, a parabolic rally. It is worth noting that the 1W MACD formed a similar pattern during this phase.

Realistic Price Target

The previous rally peaked on the MM 3rd SD above (red trend-line) at a $2000 price tag. A realistic target for the future rally would be to 'only' make contact with the 2nd SD (orange trend-line), which could potentially be reached by the start of Q4 2024.