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BTC, ADA, and BNB Price Analysis for July 13

Wed, 07/13/2022 - 17:17
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Denys Serhiichuk
Can the second part of July become bullish for the cryptocurrency market?
BTC, ADA, and BNB Price Analysis for July 13
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is slightly recovering after the correction, with some of the coins returning to the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) could not come back above the $20,000 mark, going down by 1.59%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Despite the drop below $20,000, Bitcoin (BTC) has bounced off the local support level at $18,931. As long as the price is above it, bulls can hope for continued growth.

Related
BTC, SOL and AVAX Price Analysis for July 11

However, it might take some time as the leading crypto has not accumulated enough energy for the sharp move.

Bitcoin is trading at $19,473 at press time.

ADA/USD

Cardano (ADA) is the biggest loser today, falling by almost 4%.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Analyzing the daily chart, Cardano (ADA) is under the bears' pressure as the price has fallen below the support level at $0.4359. At the moment, one should pay attention to the area around $0.40, the breakout of which might lead to the continued drop of the altcoin. 

ADA is trading at $0.4199 at press time.

BNB/USD

Binance Coin (BNB) has followed the decline of BTC, going down by 1.78%

BNB/USD chart by TradingView
BNB/USD chart by TradingView

From the technical point of view, BNB is more bearish than bullish as sellers have dropped the price below the support level at $230. Until the price is there, there is a possibility to see the test of the $200 zone within the next few days.

BNB is trading at $224.1 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.