Have Cardano (ADA) and Binance Coin (BNB) dropped enough to continue their rise?
Bulls could not hold the initiative for long, and most of the coins are back in the red zone.
The price of Cardano (ADA) has dropped by 1.26% over the last 24 hours.
On the daily chart, Cardano (ADA) is still trading above the support level at $0.31, which means that there is still a chance to see local growth. However, buyers need to fix the price above the $0.32 mark if they want to withstand bears’ pressure.
Cardano is trading at $0.3166 at press time.
Binance Coin (BNB) has followed the fall of Cardano (ADA), going down by 1.13%.
Binance Coin (BNB) has made a false breakout of the resistance level at $313. While the price is below it, bears remain more powerful than bulls, and there is still a high chance to see a drop. In this regard, the decline may lead to a test of the $305-$310 zone soon.
BNB is trading at $312.3 at press time.