Bulls could not hold the initiative for long, and most of the coins are back in the red zone.
The rate of Binance Coin (BNB) has declined by 2.57% over the last 24 hours.
On the daily time frame, the price of BNB has come back to the recently formed support level at $271.6. If bulls cannot change the situation by the end of the day, the breakout may lead to the test of the $256.7 mark by the end of the month.
BNB is trading at $271.9 at press time.
Cardano (ADA) is more of a loser than BNB, falling by 4.18%.
Despite the drop, Cardano (ADA) is looking less bearish than BNB as the daily candle is about to close away from the nearest support at $0.3251. In this case, the more likely scenario is a bounce back to the resistance zone at around $0.34.
ADA is trading at $0.3288 at press time.