Should one expect further drop of Cardano (ADA) and Binance Coin (BNB)?
The weekend has started with a drop on the cryptocurrency market, according to CoinMarketCap’s ranking.
Cardano (ADA) has lost a lot of value today, falling by almost 2%.
From the technical point of view, Cardano (ADA) is trading similarly to Ethereum (ETH), as the altcoin has not decided which way to move yet.
Currently, one should pay close attention to the $0.34 mark. If the candle fixes above it, the accumulated energy might be enough for a rise to $0.35.
ADA is trading at $0.3256 at press time.
Binance Coin (BNB) has lost less than Cardano (ADA), going down by 0.73%.
Binance Coin (BNB) remains under bears’ pressure despite yesterday’s bullish candle. If buyers want to seize the initiative in the midterm, they should bring the rate back to the $290 zone. However, there are no prerequisites for that at the moment, as the volume keeps declining.
BNB is trading at $271.6 at press time.