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ADA and BNB Price Analysis for January 3

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Tue, 3/01/2023 - 14:18
ADA and BNB Price Analysis for January 3
Cover image via www.tradingview.com

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Most of the coins have faced a decline today, trading in the red zone.

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Top coins by CoinMarketCap

ADA/USD

The price of Cardano (ADA) has declined by 0.15% over the past 24 hours.

ADA/USD chart by TradingView

On the daily chart, the price of Cardano (ADA) has bounced back to the support of $0.2521 against the low volume. Until the rate is above it, bulls have the chance to rise.

Related
Ethereum (ETH) Price Analysis for January 2

In this case, the possible upward move may lead to the test of the closest resistance area of $0.26. Such a scenario is relevant until mid-January.

ADA is trading at $0.2539 at press time.

BNB/USD

Binance Coin (BNB) is more of a loser than Cardano (ADA), going down by 0.76%.

BNB/USD chart by TradingView

On the daily time frame, the price of Binance Coin (BNB) keeps trading in the channel between the support at $240 and the resistance at $248.7, accumulating power for a further sharp move. However, if the growth to $248 happens, the breakout might be a prerequisite for a rise to the $254 level as enough energy has already been gathered.

BNB is trading at $245.4 at press time.

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