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ADA and BNB Price Analysis for October 5

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Wed, 5/10/2022 - 15:43
ADA and BNB Price Analysis for October 5
Cover image via www.tradingview.com

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.

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Bulls could not hold the initiative for a long time as most of the coins have come back to the red zone.

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Top 10 coins by CoinMarketCap

BNB/USD

The rate of Binance Coin (BNB) has declined by 1.59% since yesterday.

BNB/USD chart byTradingView

Despite the fall, Binance Coin (BNB) remains bullish as the price keeps trading above the support level at $286.6. At the moment, the more likely scenario is sideways trading in the range of $290-$295 so that buyers can accumulate more power for a further upward move.

BNB is trading at $290.8 at press time.

ADA/USD

Cardano (ADA) has followed the drop of Binance Coin (BNB), going down by 1.45%.

ADA/USD chart by TradingView

Unlike Binance Coin (BNB), Cardano (ADA) is looking more bearish than bullish as the price is coming back to the $0.42 level. If bears' pressure continues, one can expect a sharp drop to the support zone at $0.40.

ADA is trading at $0.4261 at press time.

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