The first day of 2024 has started mainly bearish for the cryptocurrency market, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has fallen by 0.75% over the last 24 hours.
Despite today's fall, the price of ADA keeps trading sideways, accumulating energy for a further move. At the moment, the rate is in the middle of a wide channel.
In this case, consolidation in the range of $0.56-0.64 is the more likely scenario for the current week.
ADA is trading at $0.6050 at press time.
BNB/USD
Binance Coin (BNB) has followed the drop of ADA, going down by almost 3%.
On the daily time frame, one should pay attention to the bar closure in terms of the $307 level. If it happens near it, the drop may continue to the important zone of $300 shortly.
BNB is trading at $309.5 at press time.