BNB Price Prediction: Hidden Buy Signal Emerges as BNB Surges Toward $1,000 – On-Chain Data Suggests a Big Bounce Is Coming

A powerful on-chain signal just flashed for BNB, sparking renewed confidence in a bullish BNB price prediction as the token eyes a return to $1,000.

The Network Value to Transactions (NVT) ratio has plunged to a 27-month low, suggesting BNB is currently undervalued relative to its growing network activity.

In the past, this has been a contrarian signal. This means that, when the metric drops, the price of BNB starts to rise.

The last time the NVT metric hit a low of around 90, BNB started its ascent from $650 to its all-time high of $1,300.

BNB Price Prediction: Early Bullish Signals Pop Up in the Daily Chart

The daily chart shows that an ascending price channel has formed after BNB hit a key support at $920.

The price has progressively recovered, but experienced some selling pressure right after it hit $1,000. This psychological threshold would be the key resistance to watch in the next few days.

A move above this mark could trigger a much more explosive uptick in the near term.

Although it is still a bit early to tell if this will be the beginning of the next leg up for BNB.

If the price rises above the 200-day EMA, it could retest its all-time high soon, as this is a critical level from a technical standpoint.

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