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Binance Coin (BNB) Price Analysis for January 30

Mon, 01/30/2023 - 18:30
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Denys Serhiichuk
How deep can drop of Binance Coin (BNB) go at current correction?
Binance Coin (BNB) Price Analysis for January 30
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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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Sellers might have locally seized the initiative, according to the CoinMarketCap ranking.

Top 10 coins by CoinMarketCap


Binance Coin (BNB) could not withstand sellers' pressure, going down by 2.59%.

BNB/USD chart byTradingView

On the local chart, the price has made a false breakout of the support level at $305.2. Until the rate is above it, bulls remain more powerful than bears. However, if buyers cannot come back to the resistance shortly, one can expect a fall below $300 soon.

BNB/USD chart byTradingView

On the bigger time frame, the rate has made a false breakout of the resistance at $316, which means that bulls might need more time to accumulate energy for a further move.

Bitcoin (BTC) Price Analysis for January 29

In this case, sideways trading in the range of $300-$310 is the more likely scenario until the end of the week.

BNB/BTC chart by TradingView

Analyzing the daily chart against Bitcoin (BTC), the situation is almost unchanged as the price is stuck in the middle of a wide channel. If buyers want to seize the initiative, they need to return the rate to the 0.0136 zone.

BNB is trading at $310 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