Key Insights
- Binance Coin price has invalidated that bearish pennant chart pattern.
- It has also moved above the 50-day moving average and the Supertrend indicator.
- The BSC network will launch the Fermi hard fork this week.
Binance Coin price rose for the third consecutive day on Sunday. It is continuing a bullish trend that started on November 21 when it bottomed at $787. It has invalidated the bearish pennant pattern, pointing to an eventual rebound ahead of the upcoming Fermi upgrade and hard fork.
BNB Smart Chain to Activate Fermi Hard Fork
Binance Coin price will be in the spotlight this week as the developers activate the closely-watched Fermi hard fork on January 14th. Fermi is the fourth major hard fork in the BSC ecosystem after last year’s Maxwell, Lorentz, and Pascal. Its main goal is to make BSC one of the fastest-growing chains in the crypto industry.
In a statement, the developers noted that the upgrade will push the block time from the current 0.75 to 0.45 seconds. It will also improve its fast finality tools and responsiveness while keeping the network stable under load. That will ensure the chain continues to perform well in real production conditions.
Just recently, opBNB, a layer-2 network on the BSC Chain, completed the Fourier upgrade. It reduces the block times from 500 milliseconds to 250 milliseconds.
BSC’s upgrade is coming at a time when Ethereum has continued to gain market share in all industries, including decentralized finance (DeFi), Real-World Asset (RWA) tokenization, and gaming.
It recently activated the Fusaka upgrade, which introduced the peerDAS tools. Besides, it plans to launch the Glamsterdam and Hegota upgrades later this year. Therefore, BNB Smart Chain’s main competition is with Solana, which also plans to launch the Alpenglow upgrade later this quarter.
Data compiled by DeFi Llama shows that the BSC Chain has a total value locked (TVL) of $9.4 billion. That’s lower than Solana’s $20 billion and Ethereum’s $145 billion. Its bridged TVL stands at $46 billion compared with Solana’s $47 billion.
BNB ETF Filing and Upcoming Token Burn
The other potential catalyst for the Binance Coin price is the upcoming BNB ETF filing by Grayscale, a top crypto asset manager. It registered its ETF in Delaware, meaning that the filing will come soon.
Grayscale joins VanEck, which filed for a spot BNB ETF in 2025. A potential reason why companies have maintained their hesitation on filing for a BNB ETF is that it was launched by Binance, a company with Chinese roots. The SEC has only approved altcoin ETFs with American founders.
Odds of a BNB ETF approval are high, as Donald Trump has already pardoned Changpeng Zhao. The Securities and Exchange Commission has also embraced a light-touch approach to crypto regulations. It has already approved ETFs on tokens like XRP, Solana, Dogecoin, Hedera, and Litecoin.
Binance Coin price will also react to the upcoming BNB token burn. Data shows that the network will soon execute a 1.3 million token burn, worth over $1.27 billion. These token burns are part of its strategy to reduce its circulating supply from the current 137 million to 100 million.
Binance Coin Price Technical Analysis
The daily timeframe chart shows that the BNB price has bounced back over the past few weeks. It rose from a low of $787 in November to its current level of $911.
Most importantly, it has moved above the upper side of the symmetrical triangle shown in red. Rising above this level was a sign that it invalidated the forming bearish pennant pattern, which is a common continuation sign.
Binance Coin has now moved above the 50-day Exponential Moving Average (EMA) and the Supertrend indicator, a sign that it is gaining momentum. The last time the Supertrend indicator turned green was in October last year, and the token surged to a record high after that.
BNB price has also moved above the 61.8% Fibonacci Retracement level and the strong, pivot, and reverse levels of the Murrey Math Lines tool.
Therefore, the most likely Binance Coin price prediction is bullish. The next key level to watch would be the Major S&R pivot point of the Murrey Math Lines tool at $1000.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
