The BNB price is sitting below the spotlight that has surrounded Bitcoin, Ethereum, and Solana in recent months, but a new technical outlook suggests that this quiet phase may be exactly where the larger setup is forming.
BNB Is Repeating A Multi-Year Breakout StructureThe 3-week candlestick chart maps BNB’s full price history from its 2018 lows around $1.41, through the 2021 blow-off top above $662, and into the current price action. According to this setup, BNB is currently moving just above a broad support zone between roughly $300 and $600, with the analyst labeling the area as the best accumulation zone.
The setup also includes Fibonacci retracement levels around $657 and $417 within the support zone. The outlook here is a bounce from any Fibonacci level that sends the BNB price to new all-time highs. The chart projects three upside targets from this base: Target 1 at $2,112, Target 2 at $5,000, and Target 3 at $12,000.
At the time of writing, BNB is trading at $626.5. Therefore, a move to $12,000 from the current price would require an increase of 1,895%.
BNB Chain Is Quietly Pulling In Tokenized Finance GiantsCrypto Patel pointed to the presence of major tokenized finance products on BNB Chain, including BlackRock’s BUIDL, Franklin Templeton’s BENJI, and VanEck’s VBILL as examples.
