December 18 Price Analysis: Evaluating ADA and BNB Performance

ADA/USD Price Analysis

The Cardano (ADA) price has experienced a 3.42% decline over the last day. On the daily chart, ADA continues its downward trend following yesterday’s bearish closure.

If today’s bar concludes near the $0.55 mark, there is a high likelihood of a test of the support level at $0.5106 in the near future. As of now, ADA is trading at $0.5664.

BNB/USD Price Analysis

Binance Coin (BNB) has experienced a relatively smaller decline compared to Cardano, with its rate decreasing by 1.42%. Despite today’s fall, the price of BNB remains distant from the support or resistance levels.

However, if buyers fail to maintain the $230 mark, there is a potential for a breakout towards $224. This scenario remains relevant until the end of the week. Currently, BNB is trading at $237.