Binance Coin (BNB) Price Analysis for January 16 - U.Today

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Denys Serhiichuk

How agelong is correction of Binance Coin (BNB) going to last?

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Bulls are losing their inaugural arsenic the rates of most of the coins are successful the reddish zone.

Top coins by CoinMarketCap


Binance Coin (BNB) could not withstand bears' pressure, going down by 1.26% implicit the past 24 hours.

BNB/USD illustration by TradingView

On the hourly chart, the terms of Binance Coin (BNB) has breached the enactment astatine $296 and keeps declining. In this case, the much apt script is the ongoing driblet to the $290 zone.

Thus, the selling measurement is rising, which means that bears are not going to springiness up truthful easily.

BNB/USD illustration by TradingView

On the regular chart, the terms of Binance Coin (BNB) has failed to hole supra the captious $300 zone. Currently, 1 should wage attraction to the regular closure. If it happens beneath yesterday's debased astatine $291.8, the diminution whitethorn pb to the trial of the enactment astatine $287.7.

BNB/BTC illustration by TradingView

The concern is much bearish connected the regular clip framework against Bitcoin (BTC), arsenic the complaint keeps decreasing aft the breakout of the enactment astatine 0.01433. If buyers cannot prehend the inaugural shortly, the downward determination whitethorn proceed to the 0.014 zone.

BNB is trading astatine $295.8 astatine property time.