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BTC, BNB and ADA Price Analysis for June 12

Sun, 06/12/2022 - 17:00
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Denys Serhiichuk
Which coins have reached reversal levels so far?
BTC, BNB and ADA Price Analysis for June 12
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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Sunday was not an exception as bulls have continued the drop.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 8% over the last week.

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

Bitcoin (BTC) is about to close the weekly candle below the support level at $27,757. From the mid-term point of view, the main coin has accumulated enough power for a more profound price decrease. In this case, if buyers cannot return the rate to the $29,000 zone, there are chances to see BTC even at $20,000 for one coin.

Bitcoin is trading at $27,304 at press time.

BNB/USD

Binance Coin (BNB) is the biggest loser from the list as it has dropped weekly by 13.62%.

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

Binance Coin (BNB) is on the way to its support level at $238.50 on the weekly time frame. The native exchange coin cannot withstand BTC's fall, which means that there are more chances to see the test of the next vital level at $148 within the month.

BNB is trading at $256.5 at press time.

ADA/USD

The rate of Cardano (ADA) has declined by 12% since yesterday, while the price change over the last week has constituted -9.29%.

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

Cardano (ADA) is far away from its crucial levels; however, the altcoin is following the overall market fall. Thus, the selling volume is rising, confirming bears' power. Respectively, one can expect the retest of the $0.3974 level next week.

ADA is trading at $0.5078 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.