• Binance Coin (BNB) launched in 2017 as the utility token for Binance, one of the largest crypto exchanges.
• BNB ranks 4th on CoinMarketCap and its price prediction for 2023 is $299.5 to $364.2.
• Binance Coin (BNB) has laid out a horizontal channel pattern with resistance levels of $272.8, $338.7 and $529.4 and support level of $220.5

What Is Binance Coin (BNB)?

Binance Coin (BNB) was launched in 2017 as the utility token for Binance – one of the largest crypto exchanges. It can be used as transaction fees and trading fees on the exchange, and later migrated onto the BSC (Binance Smart Chain). This expanded its functionalities further, making it rank 4th on CoinMarketCap in terms of market capitalization.

Current Market Status

The current price of BNB is around $234.56 with 24-hour trading volume at roughly $518 million dollars and 1.91% down from yesterday’s pricing data according to CoinMarketCap . Its all-time high was recorded at $690 back in May 2021.

Price Prediction for 2023

The overview of the Binance Coin price prediction for 2023 is that it could reach anywhere from a low of $185 up to a high of around up to$364 depending on market conditions and technical analysis indicators such as horizontal channel patterns which suggest buying or selling points within consolidation periods. The current resistance levels are estimated at around$272, followed by$338 & 529 respectively while support stands at$220 only 5%.

Conclusion

In conclusion, while no investment should be made solely based off predictions – investors should keep an eye on this emerging asset class as it continues to gain ground amongst mainstream usage due to its potential use cases beyond just being used as an investment vehicle like many other cryptocurrencies are currently doing today . With that said , only time will tell what lies ahead so always conduct your own research before investing any funds into anything!

Summary

This article discussed about what is Binance coin (BNB), its current market status, its price prediction for 2023 along with some technical analysis indicators like horizontal channel patterns which suggests buying or selling points within consolidation periods and resistance/support levels that needs to be considered before investing into this asset class . Overall , investors should always do their own research before investing any funds into anything!