Coin

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 Cover image via <a href="https://u.today/">U.Today</a>
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The market is mainly trading sideways as the prices of some coins are rising while others are <a href="https://u.today/xrp-price-analysis-for-january-16-0">falling</a>.
<img data-entity-type="file" data-entity-uuid="44bf2426-4464-4b5d-8289-ce9e92ddc096" src="https://u.today/sites/default/files/inline-images/top10_885.png">Top coins by<a href="https://coinmarketcap.com/"> CoinMarketCap</a>
<h2 class="text-align-justify" id="bnb-usd">BNB/USD</h2>
The rate of Binance Coin (BNB) has fallen by 1.15% over the last 24 hours.
<img data-entity-type="file" data-entity-uuid="9c4cf291-b98a-4ff3-bdbd-0077e2905814" src="https://u.today/sites/default/files/inline-images/bnb1_68.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BNBUSD">TradingView</a>
On the hourly chart, the price of BNB is in the middle of the local channel, accumulating energy for a further move. This means that neither bulls nor bears have seized the initiative yet.&nbsp;
In this case, ongoing sideways trading in the area of $310-$315 is the more likely scenario.
<img data-entity-type="file" data-entity-uuid="ed64d98d-542d-45f5-ae3f-3670b9edf425" src="https://u.today/sites/default/files/inline-images/bnb2_66.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BNBUSD">TradingView</a>
A similar picture can be seen on the daily time frame. The volume has declined, which means there are low chances for ups or downs. Likewise, traders are likely to witness a consolidation between $300 and $330 by the end of the week.
<img data-entity-type="file" data-entity-uuid="ebe95bd8-6b4e-4512-a924-6a7336933b6c" src="https://u.today/sites/default/files/inline-images/bnb3_67.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BNBUSD">TradingView</a>
From the midterm point of view, one should pay attention to the weekly bar closure in terms of the last candle peak. If it happens above $320, the rise may continue to the resistance of $338 soon.
BNB is trading at $312.7 at press time.

Binance Coin (BNB) Price Analysis for January 17

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