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ADA and BNB Price Analysis for January 12

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Thu, 12/01/2023 - 15:17
ADA and BNB Price Analysis for January 12
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Bulls are back in the game as most of the coins are again trading in the green zone.

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Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) is the biggest gainer today, rocketing by almost 5% over the last 24 hours.

ADA/USD chart by TradingView

Despite the sharp growth, the price of Cardano (ADA) has made a false breakout of the resistance level at $0.3290. At the moment, traders should pay close attention to it.

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If buyers can bring the rate back to the mark by the end of the day and the candle closes near it, the growth may continue to the $0.34 zone by the end of the week.

ADA is trading at $0.3229 at press time.

BNB/USD

Binance Coin (BNB) is less of a gainer, going up by 2%.

BNB/USD chart by TradingView

On the daily time frame, the rate of Binance Coin (BNB) has made a false breakout of yesterday's peak at $287.7. Despite the slight correction, the native exchange coin remains trading in the bullish zone as the price is above the support at $276.5. In this case, the more likely scenario is consolidation in the narrow range of $280-$285 so that buyers can gain more energy for a further move.

BNB is trading at $280.9 at press time.

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