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BTC, ETH and BNB Price Analysis for January 5

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Fri, 5/01/2024 - 17:49
BTC, ETH and BNB Price Analysis for January 5
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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BTC/USD

The rate of Bitcoin (BTC) has declined by 0.09% since yesterday.

Image by TradingView

Despite today's slight decline, the price of BTC is trying to return to the $44,000 zone. If buyers manage to do that and the bar closes near that mark or above, there is a chance to see a resistance breakout followed by a move to the $46,000 area.

Bitcoin is trading at $43,700 at press time.

ETH/USD

Ethereum (ETH) has lost more than Bitcoin (BTC), going down by 1.36%.

Image by TradingView

On the daily chart, the rate of ETH is in the middle of the wide channel. It means that one should not expect any sharp moves soon. All in all, sideways trading in the area of $2,200-$2,300 is the more likely scenario.

Ethereum is trading at $2,236 at press time.

BNB/USD

Binance Coin (BNB) is not an exception, falling by 2.28%.

Image by TradingView

Traders should pay attention to the bar closure in terms of the nearest level of $307. If the drop reaches it, there is a possibility to see a test of $300 shortly.

BNB is trading at $312.7 at press time.

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