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BTC, ADA and BNB Price Analysis for March 12

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Sat, 12/03/2022 - 14:50
BTC, ADA and BNB Price Analysis for March 12
Cover image via www.tradingview.com

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The bearish trend has continued on the weekend; however, some coins are trading better than others. Mainly, XRP is the biggest gainer among the top 10 coins, going up by more than 7%.

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Top coins by CoinMarketCap

BTC/USD

The weekend started positively for Bitcoin (BTC) as its rate has increased by 0.66% over the last 24 hours.

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BTC/USD chart by TradingView

Bitcoin (BTC) has fixed above the $39,000 mark on the daily chart, which means that bulls are not ready to give up so easily. Thus, the selling trading volume is going down, confirming bears' weakness.

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If the main cryptocurrency can finish the current week at the current levels, there is a chance to see further growth to the zone around $40,000 next week.

Bitcoin is trading at $39,242 at press time.

ADA/USD

Cardano (ADA) is the only loser from the list today with a price change of -0.66% since yesterday.

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ADA/USD chart by Trading View

Cardano (ADA) is far away from its resistance level at $1, slowly approaching the lower level at $0.70. However, at the moment, it is too early to consider any sharp moves, as the price needs to get close to the support to confirm the bearish trend.

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All in all, in case of the futher seller pressure below $0.75, one can expect the test of the support next week.

ADA is trading at $0.797 at press time.

BNB/USD

Binance Coin (BNB) is the biggest gainer, rising by 1.70%.

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BNB/USD chart by TradingView

Binance Coin (BNB) is neither bullish nor bearish despite today's growth. The price is located in the middle of the channel with no bearish or bullish signals. But if buyers manage to seize the initiative and get to the $400 mark, the rise may lead to the level at $440.

BNB is trading at $377 at press time.

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