As an experienced analyst, I have closely monitored the cryptocurrency market for years, and I can see that according to CoinMarketCap, most coins seem to have reached a local dip. However, two coins, Cardano (ADA) and Binance Coin (BNB), are showing some promising signs of growth.
Most of the coins might have found a local deep, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has risen by 4.19% over the last day.
On the daily chart, the price of ADA is about to break the resistance level of $0.4027.
As an analyst, I would interpret that if the price reaches this level and the candlestick forms without a significant wick in the upper portion, it could be a sign of strong buying pressure. Consequently, the price may advance towards the next resistance at $0.42.
ADA is trading at $0.3988 at press time.
BNB/USD
Binance Coin (BNB) is less of a gainer than ADA, going up by 0.44%.
Although there was a minor increase in the price of BNB today, it hasn’t gained sufficient momentum for any significant advancement. Awaiting buyers for mid-term growth is a possibility only if the price returns to the crucial level of $600. In the meantime, selling pressure continues to be a dominant force.
BNB is trading at $577 at press time.
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2024-07-01 18:39