If the price sustains above £0.86, the pair could rally to the 50-day SMA. A break and close above this resistance will suggest that the selling pressure is reducing.
Conversely, a break and close below the support zone could result in panic selling and the pair may drop to the psychological support at £0.50.
Previous Analysis...
CARDANO - ADA/GBP
Binance Coin broke and closed below the 200-day SMA on January 20. That was followed by another sharp fall on January 21 which pulled the price below the psychological support at £300. The BNB/GBP pair dropped close to the strong support at £247 on January 22 and the bulls have held the level since then. The bulls will have to push and sustain the price above £289 to signal the start of a sustained recovery.
A break and close above the downtrend line will be the first sign of a possible change in trend. Alternatively, if the price turns down and breaks below £247, it will suggest the resumption of the downtrend. The pair could then plummet to the psychological level at £200 and later to £183.
Previous Analysis...
BINANCE - BNB/GBP
Cryptonaire Weekly | January 25th 2022
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