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The cryptocurrency market has returned to a bearish trend as the rates of most of the coins are falling.
The rate of Cardano (ADA) has followed the decline of Bitcoin (BTC), going down by 3.36%.
On the daily chart, the price has entered a consolidation phase after a recent sharp fall. If the rate remains above the $0.3150 mark, one can expect sideways trading in the range of $0.32-$0.33. Such a scenario is relevant until the end of the week.
ADA is trading at $0.3204 at press time.
Binance Coin (BNB) is an exception to the rule, rising by 0.17% over the last 24 hours.
Despite a slight rise, Binance Coin (BNB) is not ready for the midterm rise as the altcoin has not accumulated enough energy yet. The low volume confirms such a statement.
In this regard, consolidation in the narrow range of $305-$315 is the more likely scenario for the next few days.
BNB is trading at $308.6 at press time.