Bears have started to seize the initiative as most of the coins from the top 10 list are in the red zone.
BTC/USD
Bitcoin (BTC) is the main loser today, going down by 1.36%.
Bitcoin (BTC) could not hold above the $24,000 mark for a long time, which means that bulls might need more time to accumulate power. Currently, one needs to pay close attention to the local support level of $23,615. If buyers lose it, the fall can lead to the test of the $23,000 area soon.
Bitcoin is trading at $23,801 at press time.
BNB/USD
Binance Coin (BNB) is not an exception to the rule, falling by 0.93%.
Binance Coin (BNB) is trading similarly to Bitcoin (BTC) as the native exchange coin might face a slight correction before possible growth. At the moment, the more likely scenario is the test of the $305.7 level, followed by its false breakout. Such a scenario can happen if the daily candle closes below $310 on the daily chart.
BNB is trading at $314.3 at press time.
ADA/USD
Cardano (ADA) is the so-called “biggest gainer” with a fall of 0.63%.
Unlike other coins, Cardano (ADA) has fixed above the $0.5472 level. If the situation does not change by the end of the day, the upward move may continue to the test of the $0.60 zone shortly.
ADA is trading at $0.5586 at press time.
Source: https://u.today/btc-ada-and-bnb-price-analysis-for-august-16