Analyst Predicts Over 800% Increase in BNB Price
BNB Price Expected to Surge Over 800% According to Crypto Analyst
The cryptocurrency BNB has been making waves in the market as one of the best performers coming out of the bear market of 2022. With its continued strength and bullish outlook, one crypto analyst predicts an over 800% increase in price from its current levels.
BNB Showing Strength On The Monthly Chart
Without Worries, a pseudonymous crypto analyst on TradingView, has shared an intriguing analysis of the BNB price using the monthly chart. Despite already rallying over 150% in the past year, BNB remains in a bullish trend, with the analyst pointing out a legacy uptrend channel that has been maintained since the coin’s launch.
The recent third test of resistance for BNB after three years of consolidation has further fueled bullish sentiment, especially with the Stochastic RSI crossing above 80. This indicator suggests a potential rally similar to the one seen in May 2020, with momentum expected to continue until August or September.
Price Breaks Out Of Resistance
Following the successful breakout of the third resistance level, Without Worries predicts a massive breakout for the BNB price, with a target set at $6,000. This target represents an over 800% increase from the current price, with the analyst citing a bull flag pattern confirming the breakout and support.
The analyst expects the rally to fully play out by September, indicating that BNB is just getting started on its upward trajectory. With the price holding steady above $600, the outlook for BNB remains positive according to the analysis.
Overall, the bullish outlook for BNB and the potential for a significant price surge have caught the attention of investors and traders alike, making BNB one to watch in the coming months.
