Having weathered the long, grueling bear market of 2022 with tenacity, BNB has emerged as one of the dominant performers in the crypto field. The strength of the altcoin continues to bear formidable indicators, inferring that it is far from reaching its peak. A crypto analyst, operating under the pseudonym ‘Without Worries’, suggests the current run of BNB might outlast expectations and propel it to heights shocking the proponents and skeptics alike, implying an increase in the magnitude of 800% from the present value.
To decode the predictions of the future course of BNB, the adept internet analyst relied on the Monthly Chart. As per his observations, the altcoin upheld a bullish demeanor, undeterred by the striking rally over 150% witnessed in the previous year. His insightful analysis amplifies BNB’s sustained price motion aligning with a legacy uptrend channel. A rarity in the crypto market; the altcoin has kept meticulously to this trajectory since its inception. To help visualize the validity of his claim, Without Worries spotlighted the failed attempt of altcoin Litecoin in maintaining a similar legacy uptrend channel.
The market expert further highlighted that, at the time of his original analysis on June 3, BNB had entered into its third resistance test. This test followed a period of three years characterized by consolidation. Encouragingly though, the resistance test output was promisingly bullish for the altcoin. A major factor driving this optimism is the Stochastic RSI crossing above 80. The significance of this event lies in the fact that its precedent occurrence was in May 2020, just as the coin was poised for an aggressive rally. This mirrored the scenario today with the Stochastic RSI maintaining its momentum for 182 consecutive days. If past patterns traced by BNB are any indication, this tempo is likely to last until August or September, Without Worries elaborated.
In a subsequent post, he proclaimed that BNB had successfully broken out of its third resistance. He reminded his keen followers that, as per his primary analysis, such an event would ignite a colossal breakout for the altcoin. The price pinnacle for BNB is projected at $6,000, equating to an 800% price surge. The bullish flag pattern validates the breakout and the support within the rally. The projection of the price escalates to $6,000, which corresponds to a measured move from the flagpole of the last resistance breakout, he further stated.
Peering into the crystal ball of future, Without Worries estimated the rally to unfurl to its full potential around September, which is approximately 16 weeks from the initial point of analysis. If his prognostication holds true, then BNB is evidently still warming up. As of present, the BNB price graph illustrates a consistent value north of $600.
