As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I can’t help but feel a familiar sense of deja vu as I witness this week’s market dump. The dance between bulls and bears never ceases to amaze me!
The new week has started with a massive market dump, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has declined by 13.24% over the last 24 hours.
On the day-to-day graph, the cost of ADA appears to have had a misleading surge past the $0.2802 mark. It’s crucial to watch the day’s closing price in relation to $0.3165 at this point.
If the bar’s closing price rises above its current level, bullish investors might take control temporarily, potentially pushing prices towards the $0.34 region for testing.
ADA is trading at $0.3150 at press time.
BNB/USD
Binance Coin (BNB) has followed the drop of ADA, going down by 12.85%.
After hitting the $400 threshold, the speed of BNB has rebounded. If purchasers manage to push the price beyond the $454.80 barrier, the uptrend could potentially reach $500 before the end of the week.
BNB is trading at $454.40 at press time.
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2024-08-05 18:09