Binance Coin (BNB): poised for a significant price increase

The cryptocurrency market has been witnessing an impressive performance from Binance Coin (BNB), defying the bearish trends of 2022. With projections indicating a potential surge of over 800%, BNB is garnering attention for its strong momentum.

An anonymous crypto analyst on TradingView, known as Without Worries, has provided an in-depth analysis of BNB's price trajectory. Focusing on the monthly chart, the analyst highlights the altcoin's bullish movement, which has been consistent despite a remarkable 150% rally in the past year.

The analyst points out that BNB's price seems to be following a legendary uptrend channel, a rare and crucial indication of sustained growth. This channel signifies that BNB has upheld its upward momentum since its inception, unlike other altcoins that struggle to maintain such trends.

Additionally, as of June 3, BNB is undergoing its third resistance test after three years of consolidation, signaling a stronger bullish outlook for the coin. A significant factor contributing to this optimism is the Stochastic RSI crossing above 80, a key event that occurred last in May 2020 before BNB's substantial rally.

The analyst predicts that BNB's price could reach US$6,000, an 800% increase from its current level. The breakout above the third resistance level confirms this upward trend, with a target projection suggesting a full realization by September, spanning approximately 16 weeks.

This analysis hints at a promising phase for BNB investors, with the potential for a substantial price surge on the horizon.