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ADA and BNB Price Analysis for March 16

Thu, 16/03/2023 - 14:49
ADA and BNB Price Analysis for March 16
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The cryptocurrency market has returned to a bearish trend as the rates of most of the coins are falling.


Top coins by CoinMarketCap


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.


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.

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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