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Binance Coin (BNB) Price Analysis for February 10

Fri, 02/10/2023 - 15:18
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Denys Serhiichuk
When can Binance Coin (BNB) return to midterm growth?
Binance Coin (BNB) Price Analysis for February 10
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The correction continues on the cryptocurrency market as most of the coins are in the red zone.

Top coins by CoinMarketCap


Binance Coin (BNB) could not withstand the bears' pressure, falling by 4.82% over the last 24 hours.

BNB/USD chart by TradingView

Despite the drop, the price has made a false breakout of the local support level at $302.8. At the moment, the rate of Binance Coin (BNB) is trading in the middle of the channel, however, if the growth continues to the $309 mark, the rise may lead to the further test of the $315 zone soon.

BNB/USD chart by TradingView

On the daily time frame, one should pay attention to the limit level of $302. Until the rate is above it, buyers might locally seize the initiative. From another point of view, the accumulated energy is not enough for midterm growth.

Ethereum (ETH) Price Analysis for February 9

In this case, sideways trading in the range of $305-$310 is the more likely scenario for the next few days.

BNB/USD chart by TradingView

The current drop has not affected the overall technical position of Binance Coin (BNB). The native exchange coin keeps accumulating strength in the channel. Such a statement is confirmed by the decreasing volume, which means that none of the sides is ready for sharp growth. All in all, traders might see the price of BNB in the area of $300-$340 by the end of the month.

BNB is trading at $307 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at