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Binance Coin (BNB) Price Analysis for February 2

Thu, 02/02/2023 - 16:08
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Denys Serhiichuk
Can Binance Coin (BNB) keep rising faster than other coins?
Binance Coin (BNB) Price Analysis for February 2
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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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Bulls are giving bears no chances as most of the coins are again in the green zone.

Top coins by CoinMarketCap


Binance Coin (BNB) is one of the biggest gainers, rising by 5.47% over the last 24 hours.

BNB/USD chart by TradingView

On the hourly chart, the price is trading in the middle of the channel after the false breakout of the local resistance at $332.3. There are low chances of seeing any sharp moves by the end of the day, as most of the ATR has been passed.

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In this case, sideways trading in the area of $325-$330 is the more likely scenario.

BNB/USD chart by TradingView

On the bigger chart, the price has bounced off the resistance and continued the rise after being in the accumulation period for some time. If buyers can hold the rate above the $320 mark, traders can see further growth to the $340 zone shortly.

BNB/USD chart by TradingView

On the weekly chart, the price is slowly approaching the upper level of the channel after the breakout of the important $300 zone. If the growth continues to $350, the breakout of $361.3 can occur by the end of the month.

BNB is trading at $325.9 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