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BTC, BNB and ADA Price Analysis for July 23

Sat, 07/23/2022 - 14:54
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Denys Serhiichuk
Has cryptocurrency market lost energy for further rise?
BTC, BNB and ADA Price Analysis for July 23
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The weekend has started with a correction on the cryptocurrency market as most of the coins are in the red zone.

Top coins by CoinMarketCap


Bitcoin (BTC) has continued its fall after yesterday's bearish candle, falling by 4% over the last 24 hours.

BTC/USD chart by TradingView

Bitcoin (BTC) has returned to the local bearish trend as the price has made a false breakout of the $23,000 mark. Thus, the rate is approaching the support level at $22,400 on the daily chart. If the bears' pressure continues, one can expect the test of the $22,000 area next week.

Bitcoin is trading at $22,448 at press time.


Binance Coin (BNB) is the so-called "biggest gainer" as it has only declined by 1.61% since yesterday.

BNB/USD chart by TradingView

Binance Coin (BNB) could not fix the price above the $270 mark, which means the native exchange coin has not accumulated enough power for a continued rise. If buyers cannot seize the initiative, the fall might lead to the $250 zone. Such a scenario is relevant until the end of the current month.

BNB is trading at $263.4 at press time.


Cardano (ADA) has suffered the worst decline today, falling by almost 5%.

ADA/USD chart by Trading View

Cardano (ADA) has continued the fall after the false breakout of the $0.4921 mark. Even though the selling volume is low, bulls have lost the initiative after the failed attempt to get to the $0.50 zone. Respectively, one should pay close attention to the $0.45 mark, where a local reversal is possible.

ADA is trading at $0.4812 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