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The bears have taken the initiative, according to CoinMarketCap rankings.
Cardano (ADA) rate has fallen by 5.63% since yesterday.
ADA price continues to decline after a false breakout of the $0.3951 resistance level. If today’s bar closes near yesterday’s low, the decline is expected to continue to the $0.34 area until the end of the week.
ADA is trading at $0.3603 at press time.
Binance Coin (BNB) followed the decline in ADA, down 2.45%.
From a technical perspective, the BNB rate is on track to test the $238.1 support level.
If this daily candle closes close, the accumulated power could be enough for a deeper decline to the $230 zone.
BNB is trading at $240.8 at press time.