Tuesday, January 25, 2022
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    BTC, ADA and BNB Price Analysis for January 14

    Buyers have lost their initiative as all of the coins from the top 10 list are in the red zone.

    Top coins by CoinMarketCap
    Top coins by CoinMarketCap

    BTC/USD

    Yesterday, during the day, buyers tried for a long time to break through the resistance in the area of $​​44,000. In the evening, a weak bullish momentum was able to break through this level, but the bears responded with large sales volumes, and by the end of the day, the price of Bitcoin (BTC) rolled back below the two-hour EMA55.

    BTC/USD chart by TradingView
    BTC/USD chart by TradingView

    The $42,447 level could keep the pair from a deep rollback. By this morning, the couple was in a rather narrow side corridor. If today, buyers can return to the resistance of $44,000, then by the end of the week the bulls might continue their attempts to grow to the target level of $46,000.

    In case bears break through the support, then the rollback can continue to the level of $41,700.

    Bitcoin is trading at $42,483 at press time.

    BNB/USD

    The rate of Binance Coin (BNB) has gone down by almost 2% since yesterday.

    ​BNB/USD chart by TradingView
    ​BNB/USD chart by TradingView

    Binance Coin (BNB) made a false breakout of the mirror level at $489, having confirmed bulls’ weakness. If buyers cannot break this resistance and fix above it, there are high chances to see a rollback to the zone below $450 shortly.

    Thus, the selling trading volume has increased. Such a scenario is relevant until the end of January.

    BNB is trading at $475.4 at press time.

    ADA/USD

    Cardano (ADA) has followed BNB, going down by 2.78% over the last 24 hours.

    ADA/USD chart by TradingView
    ADA/USD chart by TradingView

    Despite the ongoing fall, Cardano (ADA) is trading above the support at $1.072. However, the selling trading volume tends to rise, which means that bears are more powerful than bulls at the moment. In case the situation does not change, one may expect the retest of the support level once again soon.

    ADA is trading at $1.264 at press time.

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