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.
A correction may have begun on the market, according to CoinStats.
BNB/USD
The price of Cardano (ADA) has dropped by 6.84% since yesterday.
On the hourly chart, the rate of BNB is in the middle of the local narrow channel, between the support of $607.12 and the resistance of $625.22.
Denys SerhiichukIf the growth continues to the upper line, one can expect a level breakout, followed by a move to the $630-$640 range.
On the daily chart, the price of BNB has once again bounced off the support of $610. If the bar closes far from that mark, there is a chance to see growth to the middle of the channel by the end of the week.
From the midterm point of view, the rate of the native exchange coin is far from support and resistance levels. If nothing changes by the end of the week, consolidation in the range of $610-$650 is the more likely scenario.
BNB is trading at $618.20 at press time.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
Vladislav Sopov