Binance Coin (BNB) Price Analysis for January 20 – U.Today
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The weekend has started neutral for the cryptocurrency market as some coins are rising while others keep falling.
The rate of Binance Coin (BNB) has risen by 0.27% over the last 24 hours.
On the hourly chart, the price of BNB looks bullish as it is approaching the resistance of $315.6.
If bulls keep controlling the initiative, one can expect a breakout to the $317-$319 zone.
A similar situation is on the daily time frame. If the bar closes near the $316.3 mark or above it, the upward move is likely to continue to the $320-$324 range next week.
From the midterm point of view, one should pay attention to the weekly candle closure in terms of the previous bar peak. If it happens above $316.8, traders may see further growth to the next resistance at $338.3. Such a scenario is relevant until the end of the month.
BNB is trading at $314.9 at press time.
Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future, can be contacted at denis.sinyavskiy@u.today.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.