Binance Coin (BNB) Price: Analyst Sets $5,000 Target After Bull Flag Breakout

TLDR

• Analyst Crypto Patel says BNB has confirmed a bull flag breakout on higher timeframes, with a long-term price target of $5,000.
• The $600–$700 zone is now acting as key support following the breakout.
• Support zones sit in the mid-$500s, with a deeper accumulation zone near the low $400s.
• RSI sits at 59, MACD is bullish, and multiple EMAs converge around $623, pointing to continued upward pressure.
• The $5,000 target depends on ecosystem growth, exchange dominance, and broader crypto market conditions.

Binance Coin is drawing attention after crypto analyst Crypto Patel called a bull flag breakout on the weekly chart, pointing to a long-term price target of $5,000.

BNB was trading around $623 as of February 26, after briefly testing $640 before pulling back.

The bull flag pattern forms when a strong price rally is followed by a period of consolidation. A breakout above that consolidation is seen by technical traders as a signal the uptrend may continue.

Patel shared a weekly chart showing BNB breaking out of a long compression zone that followed its previous cycle high. He considers the move above that zone as confirmation of the pattern.

The $600–$700 range is now being watched as a key support area. As long as BNB trades above this zone, the bullish case remains intact according to the analysis.

Support Levels to Watch

Below current price, there is a support zone in the mid-$500s. A deeper pullback could bring BNB to a “best accumulation zone” near the low $400s, according to the chart shared by Patel.

A long-term breakdown of the structure would be needed to invalidate the bullish setup, and that is not currently visible on higher timeframe charts.

What the Indicators Show

On TradingView, multiple EMAs — the 20, 50, 100, and 200 — are converging around $623, making it a key short-term support and resistance area.

The Ichimoku Cloud shows price just above the cloud, which points to cautious bullish momentum. The Kijun and Tenkan lines are sitting below price, providing support in the $615–$623 range.

The RSI is at 59, above the 50 midpoint, suggesting mild bullish momentum. The RSI’s moving average is trending higher.

The MACD line is above the signal line, and both are above zero. The histogram is positive and expanding, which indicates buyers currently have the upper hand.

A close above $623 could open the door back toward $630–$635. A drop below $615 and the cloud may push price down to the $608–$610 area.

The $5,000 target is framed as a long-term projection tied to ecosystem growth, exchange dominance, and overall crypto market conditions — not a short-term trade setup.

As of February 27, BNB continues to hold above the $620 level with technical indicators supporting the current bullish bias.

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