Binance Coin, Ethereum Classic, VeChain Price Analysis: 22 January

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Binance Coin could be poised for a bounce to $41.5, but at the time of writing, it was facing south and the $40.4-region could pose some resistance to the price as well. Ethereum Classic clung to a level of support at $7 while VeChain was likely to rise to $0.031 and retest the boundary of the channel it was previously trading within.

Binance Coin [BNB]

Source: BNB/USDT on TradingView

The RSI for BNB was moving under the neutral 50-mark, indicating that a downtrend was in progress. However, the Stochastic RSI was in the oversold zone and while a bounce wasn’t very apparent, it could happen.

If BNB climbs past the $39.6-level, it would likely head towards the $41.5-level of resistance.

The Gann fan lines (yellow) represented areas of resistance and support, and the past week saw the 1:1 line resist BNB’s attempts to rise further, before the drop a couple of days ago. This could see BNB test the 2:1 line as support over the next week.

Ethereum Classic [ETC]

Source: ETC/USDT on TradingView

The confluence between the 23.6% Fibonacci retracement level (white) and horizontal support at $7 meant…

Source

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