Bears have seized the initiative at the end of the week, according to CoinMarketCap.
Top coins by CoinMarketCapBNB/USD
Binance Coin (BNB) is an exception to the rule, rising by 0.24% over the last 24 hours.
Image by TradingViewDespite today’s slight rise, the rate of BNB is looking bearish on the hourly chart. If the daily bar closes below the $885.69 level, the decline is likely to continue to the $880 zone over the weekend.
Image by TradingViewOn the longer time frame, the situation is unclear as the price of the native exchange coin is far from main levels. In this case, sideways trading in the narrow range of $875-$895 is the most likely scenario over the next few days.
Image by TradingViewFrom the midterm point of view, the rate of BNB is going down after a false breakout of the resistance at $941.06.
If the weekly candle closes around the current prices or below them, traders can expect a test of the $800 area in the upcoming month.
BNB is trading at $884.16 at press time.
Source: https://u.today/binance-coin-bnb-price-analysis-for-january-23
