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LINK, BCH, and BNB Price Analysis for January 13

Can altcoins outstrip Bitcoin (BTC) in the short-term?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market is trying to recover from the recent drop. However, most of the coins are still in the red. Mainly, Ethereum (ETH) is the biggest loser, dropping by almost 5 percent.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

As such, the market capitalization index remains at the same makes up $939 billion.

The key data on Chainlink (LINK), Bitcoin Cash (BCH), and Binance Coin (BNB):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Chainlink 

LINK

$5,967,234,134 $14.90 $2,093,374,023 -1.35%

Bitcoin Cash

BCH

$8,923,406,885 $480.95 $8,102,980,584 -0.14%

Binance Coin

BNB

$5,476,354,836 $38.48 $554,571,868 -1.75%

LINK/USD 

Chainlink (LINK) could not sustain its growth and faced a correction as well as most of the top coins. Its price has fallen by 1.35 percent over the last 24 hours.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

Despite the correction, Chainlink (LINK) has growth potential in the short-term. The altcoin has accumulated enough firepower to retest the nearest resistance at $17.45. However, such a move should be considered as a part of a correction, not as a scenario of updating previous peaks.

Chainlink is trading at $14.93 at press time.

BCH/USD 

Bitcoin Cash (BCH) is the top "gainer" today as its price has fallen by only 0.14 percent since yesterday.

BCH/USD chart by TradingView
BCH/USD chart by TradingView

After taking a look at the daily chart, it becomes clear that Bitcoin Cash (BCH) is about to return to the resistance at $550. Bulls have seized the initiative in the short-term perspective as the price of the coin did not go below the vital $400 mark.

👉 MUST READ Bitcoin (BTC) Price Analysis for January 12related article image

Also, the selling trading volume is low, which means that bears are losing their momentum. 

Bitcoin Cash is trading at $477.71 at press time.

BNB/USD 

Binance Coin (BNB) is the biggest loser, with the price of the native exchange token dropping by 1.75 percent.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) is not an exception from the rule as it is also bullish in the short-term case. The coin has bounced off the MA 50, which confirmed the bullish momentum. All in all, BNB may get to the resistance at the $40 level by the end of the week.

Binance Coin is trading at $38.71 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com