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ADA and BNB Price Analysis for March 16

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Thu, 16/03/2023 - 14:49
ADA and BNB Price Analysis for March 16
Cover image via www.tradingview.com

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The cryptocurrency market has returned to a bearish trend as the rates of most of the coins are falling.

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Top coins by CoinMarketCap

ADA/USD

The rate of Cardano (ADA) has followed the decline of Bitcoin (BTC), going down by 3.36%.

ADA/USD chart by TradingView

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.

BNB/USD

Binance Coin (BNB) is an exception to the rule, rising by 0.17% over the last 24 hours.

BNB/USD chart by TradingView

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.

Related
BTC, ETH, and XRP Price Analysis for March 15

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.

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