|

Cryptocurrencies Price Prediction: Currencies, BNB & Polygon– American Wrap 24 January

Binance Coin Price Forecast: BNB bulls might have played their hand here with risk of a 10% drop

Binance Coin (BNB) price sees bulls playing a risky game as in early morning trading this Tuesday during the ASIA PAC session, $323.80 got hit and immediately saw price action drop lower. This level was marked up from the tops of June of last year and has been, although chopped up, still holding some relevance when it comes to tops or closes. If bulls took too much profit and gave bears a chance to enter, a drop below $300 would not be impossible. 
BNB/USD daily chart
Stock market remains strong at the begninning of the week and we see Cryptos still under bullish pressure, but still be aware of limited intraday gains this week, as we see it approaching interesting Fibo. cluster target area for wave »v« of 3. So, once subwave (v) of »v« of 3 is fully completed, watch out for a higher degree wave 4 correction that can retest 950B – 900B support area before the uptrend for wave 5 resumes.
Polygon (MATIC) price action has started to trade sideways as markets are starting to second-guess their idea of a Goldilocks scenario. After the dislocation has been ramping up between what central bank speakers were saying and how markets were trading the comments, that dislocation seems to have reached a boiling point. With the US and British central banks set to kick off the financial year on February 1st and 2nd, a few bulls are starting to second guess if they were not too eager too soon
MATIC/USD daily chart

Author

More from FXStreet Team
Share:

Editor's Picks

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.