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ADA and BNB Price Analysis for March 10

Thu, 03/10/2022 - 15:51
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Denys Serhiichuk
Have the main altcoins found the support levels by now?
ADA and BNB Price Analysis for March 10
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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Most of the coins have followed the drop of Bitcoin (BTC); however, there are some exceptions to the rule. Meanwhile, LUNA is rising by 3.72% over the last 24 hours.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

ADA/USD

Cardano (ADA) could not withstand the fall of Bitcoin (BTC), going down by 4.14% since yesterday.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Cardano (ADA) is looking rather bearish than bullish as the price is on its way to the support level at $0.70. However, if buyers can keep the rate above the $0.80 mark, there is a chance to see a bounceback followed by growth to $0.90.

Related
BTC, ETH and XRP Price Analysis for March 7

Currently, one needs to pay close attention to the zone where the daily candle closes.

Cardano is trading at $0.808 at press time.

BNB/USD

Binance Coin (BNB) has lost even more than Cardano (ADA) with a drop of more than 6%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

The native exchange coin keeps going down after the false breakout of the $400 mark. As long as bulls cannot fix above this level, bears can keep pushing the rate more profoundly. In this regard, daily closure in the area around $350 might be a prerequsite for an ongoing drop to $330 and below.

BNB is trading at $368 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.