Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. 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 has returned to a bearish trend as the rates of most of the coins are falling.
ADA/USD
The rate of Cardano (ADA) has followed the decline of Bitcoin (BTC), going down by 3.36%.
On the daily chart, the price has entered a consolidation phase after a recent sharp fall. If the rate remains above the $0.3150 mark, one can expect sideways trading in the range of $0.32-$0.33. Such a scenario is relevant until the end of the week.
ADA is trading at $0.3204 at press time.
BNB/USD
Binance Coin (BNB) is an exception to the rule, rising by 0.17% over the last 24 hours.
Despite a slight rise, Binance Coin (BNB) is not ready for the midterm rise as the altcoin has not accumulated enough energy yet. The low volume confirms such a statement.
In this regard, consolidation in the narrow range of $305-$315 is the more likely scenario for the next few days.
BNB is trading at $308.6 at press time.
Source: https://u.today/ada-and-bnb-price-analysis-for-march-16