ADA and BNB Price Analysis for January 28

Denys Serhiichuk

Is it possible to see ongoing rise of Binance Coin (BNB) and Cardano (ADA)?

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The last day of the week has started bullish for most of the coins, according to CoinStats.

Top coins by CoinStats

ADA/USD

The rate of Cardano (ADA) has gone up by 2.23% since yesterday.

Image by TradingView

On the daily chart, the price of ADA is rising after a false breakout of the support level at $0.4643. However, it is too early to talk about a further upward move as the altcoin has not accumulated enough energy for that.

In this case, sideways trading between $0.48 and $0.50 is the more likely scenario for the next days.

ADA is trading at $0.4930 at press time.

BNB/USD

Binance Coin (BNB) has gained less than ADA, rising by 0.56%.

Image by TradingView

The price of BNB is in the middle of the wide channel, which means that neither bulls nor bears are dominating. The falling volume confirms this statement. In this regard, consolidation in the area of $300-$310 is the more likely scenario.

BNB is trading at $307.7 at press time.

About the author

Denys Serhiichuk

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 [email protected].

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