BNB extended gains and traded to a new all-time high above $1,050. The price is gaining bullish momentum and might rally to $1,180.

BNB Price Extends Surge

After trading to a new all-time high at $1,087, BNB price saw a minor downside correction, like Bitcoin. There was a move below $1,000 and $950. However, the bulls remained active near $935, and the price started a fresh increase.

There was a clear move above the $980 and $1,000 resistance levels. The bulls pushed the price above the 76.4% Fib retracement level of the downside correction from the $1,087 swing high to the $933 low.

BNB is now trading well above the $1,050 pivot level and the 50-day simple moving average (blue). There is also a key bullish trend line in place with support at $960 on the daily chart.

The current price action is positive, and the bulls could soon aim for more gains above $1,080. Immediate hurdle for them could be near the $1,120 level since it is close to the 1.236 Fib extension level of the downside correction from the $1,087 swing high to the $933 low.

A clear move and close above the $1,120 resistance could open the doors for a move toward $1,150. The next major resistance could be near the $1,180 zone. It coincides with the 1.618 Fib extension. If there is a close above the $1,180 resistance, the price might gain bullish momentum. In the stated case, the price might be $1,250.

Downside Correction?

If BNB price fails to clear the $1,120 resistance, it might start a downside correction. Immediate support is near the $1,050 level. The first major support is now forming near the $1,000 level.

If there is a downside break below $1,000, the bears might gain some strength. The next area of interest for the bulls could be $960 and the trend line. The main support is $900 and the 50-day simple moving average (blue).

A daily close below $900 could increase selling pressure. In the stated scenario, BNB price might dive and revisit the $820 support.

Overall, BNB price is showing positive signs above the $1,020 and $1,050 levels. A close above the $1,120 resistance could send the price toward $1,180 or even $1,250. If there is a pullback, the bulls might remain active near the trend line support and $950.