ADA/USD Price Analysis
The Cardano (ADA) price has experienced a 2.23% increase since the previous day.
On the daily chart, ADA’s price is on the rise following a false breakout of the support level at $0.4643. However, it is premature to anticipate a further upward movement, as the altcoin has not accumulated sufficient momentum for such a trend.
In this scenario, the more probable outcome is sideways trading within the range of $0.48 and $0.50 in the coming days.
ADA is currently trading at $0.4930 at the time of writing.
BNB/USD Price Analysis
Binance Coin (BNB) has seen a more modest gain than ADA, with a rise of 0.56%.
The BNB price is positioned in the middle of a wide channel, indicating a lack of dominance by either bulls or bears. The declining volume supports this observation. Consequently, consolidation in the $300-$310 range appears to be the more likely scenario.
BNB is presently trading at $307.7 at press time.
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