Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The week has started with a continued correction of the cryptocurrency market.
The price of Cardano (ADA) has declined by 2.35% over the last day.
The rate of ADA is about to test the interim support level of $0.3760.
If the daily bar closes near it with no long wick, the breakout may lead to a further decline to the $0.36 area this week.
ADA is trading at $0.3775 at press time.
Binance Coin (BNB) has lost even more than ADA, falling by 2.84%.
From the technical point of view, BNB is trading similarly to ADA as its rate is also approaching the support of $224. If buyers cannot seize the initiative soon, one can expect a quicker test of the $210 range.
BNB is trading at $225.4 at press time.