BNB price has been largely lethargic and in a consolidation phase during the recent market rally. Furthermore, multiple failed attempts at breaking out of the $660-$670 have resulted in a double top formation on the daily chart. However, some analysts believe the coin is primed for a breakout that could send it to $1,000. We discuss how that could play out.
BNB Price Pattern Hints $1,000 Target: Analyst
According to influential crypto analyst ZAYK Charts on X, BNB price has recently broken out of a bullish pennant pattern on the three-day chart. His target price is based on the price breakout from the long-term consolidation level at the confluence of the ascending support and descending resistance lines.
The thesis of his analysis is based on adopting the “flag pole” on the bullish pennant pattern as the yardstick for measuring the potential price headroom. In this case, the pole measures approximately $407. Adding that price gain to the current price of $655 would carry BNB wel
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