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ADA and BNB Price Analysis for December 3

Sat, 12/03/2022 - 14:14
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Denys Serhiichuk
Which popular altcoins can rise on weekend?
ADA and BNB Price Analysis for December 3
Cover image via www.tradingview.com

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.

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The market is trading neutrally as some coins are in the green zone while the rates of others keep falling.

Top 10 coins by CoinMarketCap

ADA/USD

Cardano (ADA) has joined the list of rising coins, going up by 2.88% over the last 24 hours.

ADA/USD chart by TradingView

On the bigger chart, Cardano (ADA) is trying to fix above the resistance level at $0.3228. If the bar closes above it and/or with no long wicks, the accumulated energy could be enough for a midterm rise to the $0.34 zone.

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Thus, the selling volume is low, which means that bears are slowly losing their initiative.

ADA is trading at $0.3237 at press time.

BNB/USD

The rate of Binance Coin (BNB) has almost not changed since yesterday — the price has only risen by 0.12%.

BNB/USD chart byTradingView

Unlike Cardano (ADA), Binance Coin (BNB) is looking bearish on the daily chart. The price cannot rise after the false breakout of the support level at $286.6. If the bar closes below the $290 mark today, traders might expect to see a sharp drop to the $275-$280 zone next week.

BNB is trading at $290.5 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.