- BNB price needs to break and close above $350 on a higher timeframe for the price to rally higher
- BNB price on the weekly chart looks bearish, as this could affect the overall price movement
The bear market has proven much more difficult for the likes of Binance Coin (BNB) as many traders and investors have expressed different BNB price predictions for 2023 as many hope to buy BNB coins at a reduced price of less than $200.
2022 has been regarded as one of the toughest bear markets for many altcoins, major crypto players such as Bitcoin (BTC), Ethereum (ETH), and many crypto projects failing along the line.
Other Reading: Ethereum And Bitcoin Price Struggles As Investors Eye These Levels
The collapse of the likes of Terraluna, FTX, and other well-known crypto projects brought so much fear in the hearts of many crypto faithful as many speculated different prices for BTC, ETH, and BNB.
The domino effect of the collapse of FTX had much effect in the crypto space as many projects involved suffered insolvency with so much rumor surrounding Binance suffering insolvency at some point as this led to the price of BNB dropping to a region of $240 as the price bounced to rally high to a region of $300.
The price of BNB showed so much strength reclaiming the region of $300, as this has proven to be a good support zone for excessive sell-off. This has led many traders and investors to speculate on the BNB price prediction for 2023, as many believe the next bull market would be a big shocker for the price, as we could see the price rallying to a high of $1,000.
BNB Price Prediction For 2023 Based On Previous Price Actions
The price of Binance coin (BNB) has struggled to show strength as the price has failed to break and hold above $350, acting as strong resistance for the price of BNB.
BNB’s price needs to break and close above $350 for any sign of relief rally to a high of $400 to $450, where the price could face more decisions to rally higher.
If the price of BNB fails to hold above $300, this could limit the BNB price prediction of 2023 from $450 to $500.
