BNB May Test Resistance at $300: Can it Reach $450 Next?

Vinod Dsouza
Source: Freepik

Binance coin (BNB) climbed above the $300 mark on Friday briefly reaching the day’s high of $303. BNB backtracked in price later but it is still hovering around the $300 level in the day’s trade. Though on the negative side, BNB has shown constraints and is holding up in the indices compared to other cryptos. The coin has tried to put its best foot forward despite the bearish market conditions that are prevailing this year.

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What’s Next For Binance Coin (BNB)?

BNB Price Prediction: How Much Will It Be at the End of 2022?
Source: Ethereum World News

Leading crypto analyst Michael van de Poppe remains to be bullish on BNB’s prospects despite the ongoing bear markets. The trust factor in Binance among the investors’ community is what’s keeping its price from crashing like the other cryptos.

Poppe revealed to his 164,000 YouTube subscribers that BNB is among the top 3 cryptos to watch out for in December 2022. The analyst claimed that BNB is currently in accumulation mode and if its price breaks the $325 resistance, it could skyrocket to new highs.

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Poppe has predicted that if BNB breaks the resistance levels of $325, the next leg could be $380. According to Poppe, if BNB breaks the next barrier of $380, the crypto could reach $450 levels in the coming weeks. For that to happen, BNB needs to jump nearly 50% from its current price of $292.

“I think that once Binance [BNB] is going to crack through the level at $325. It’s going to give another push toward the highs. And then we’re going to have a runner to watch,” the analyst predicted.

Poppe added that if BNB could reach “$380, and potentially even the highs around $450,” could be achievable.

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At press time, Binance coin was trading at $292 and is down 2.8% in the 24 hours day trade. BNB is also down 57.5% from its all time high of $686, which it reached in May last year.