January 28 Price Analysis of ADA and BNB

January 28 Price Analysis of ADA and BNB

ADA/USD Price Analysis

The Cardano (ADA) price has experienced a 2.23% increase since the previous day.

On the daily chart, ADA’s price is on the rise following a false breakout of the support level at $0.4643. However, it is premature to anticipate a further upward movement, as the altcoin has not accumulated sufficient momentum for such a trend.

In this scenario, the more probable outcome is sideways trading within the range of $0.48 and $0.50 in the coming days.

ADA is currently trading at $0.4930 at the time of writing.

BNB/USD Price Analysis

Binance Coin (BNB) has seen a more modest gain than ADA, with a rise of 0.56%.

The BNB price is positioned in the middle of a wide channel, indicating a lack of dominance by either bulls or bears. The declining volume supports this observation. Consequently, consolidation in the $300-$310 range appears to be the more likely scenario.

BNB is presently trading at $307.7 at press time.

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