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SOL and BNB Price Analysis for December 4

Sun, 12/04/2022 - 13:09
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Denys Serhiichuk
Can traders expect to see lower prices of Solana (SOL) and Binance Coin (BNB) soon?
SOL and BNB Price Analysis for December 4
Cover image via www.tradingview.com

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 situation has almost not changed since yesterday as most of the coins have not decided which way to go yet.

Top 10 coins by CoinMarketCap

SOL/USD

The rate of Solana (SOL) has declined by 0.62% since yesterday. Over the last week, the price has fallen by 6.37%.

SOL/USD chart by Trading View

Solana (SOL) is trading sideways as neither side has accumulated enough power for a sharp move. However, bears seem to be more powerful than bulls to a certain extent, as the rate could not fix above the $14 zone.

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ADA and BNB Price Analysis for December 3

If the pressure continues to $13, one can expect a drop to the support level at $11.27.

SOL is trading at $13.38 at press time.

BNB/USD

Binance Coin (BNB) looks worse in terms of the weekly price change as the rate has declined by 7.19%.

BNB/USD chart byTradingView

It does not seem like Binance Coin (BNB) is going to rise after the false breakout of the support level at $286.6. If the daily bar closes below the $290 mark, there is a high chance to see a decline to the $280 zone at the beginning of the upcoming week.

BNB is trading at $289.7 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 denys.serhiichuk@u.today.