According to CoinStats, the majority of cryptocurrencies require time to gather momentum for their next potential price movement.
Cardano (ADA) Price Analysis
In the last 24 hours, the value of Cardano (ADA) has experienced a marginal 0.22% increase.
Looking at the daily chart, ADA is persisting in a downward trajectory following a deceptive breakout above the $0.6391 resistance level. Should the current candle close below the prior candle’s low, a correction towards the $0.55 range is likely.
At present, ADA is trading at $0.5924.
Binance Coin (BNB) Price Analysis
Binance Coin (BNB) stands out as one of today’s top performers, having surged by 2.43%.
Despite the day’s upward movement, the current strength in BNB’s price may not be sustained for a prolonged period. Consequently, the closing of today’s candle might deviate significantly from its peak.
If this scenario unfolds, traders should anticipate a potential decline towards the nearest support level at $366.6.
Currently, BNB is being traded at $379.3.