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.
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
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FXStreet Team
FXStreet
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