BNB Chain Daily Active Users Surge 26.4% to 1.2 Million, Revenue Jumps 58%

• BNB’s price has broken out of a long-term “falling wedge” pattern on high volume.
• The technical breakout is supported by strong on-chain growth in users and revenue.
• Analysis suggests the pattern has a potential long-term price target of $854 for BNB.

BNB is flashing bullish signals across the board, surging past a daily high of $667.92 as its price breaks out of a major long-term chart pattern. The move is supported by a significant spike in trading volume to over $1.6 billion, evident from CoinMarketCap real-time data and is reinforced by strong on-chain metrics showing impressive growth in the BNB Chain ecosystem.

From a technical perspective, BNB recently broke above the resistance trendline of a well-defined falling wedge that had been compressing its price action since late 2023.In technical analysis, a breakout from a falling wedge, especially when supported by a surge in volume, is often considered a strong bullish reversal signal. 

If this classic technical setup continues to play out, analysis points to a potential long-term price target for BNB of $854, which would surpass its current all-time high of $793.35.

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