ADA and BNB Price Prediction for December 16

Original U.Today article

Has midterm rise of Cardano (ADA) and Binance Coin (BNB) ended by now?

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The cryptocurrency market remains mainly red, according to CoinStats.

ADA/USD

The price of Cardano (ADA) has dropped by 2.05% over the last 24 hours.

On the daily chart, the rate of ADA is about to break the local support level of $1.0431. If that happens, the accumulated energy might be enough for a move to the $1 area within the next few days.

ADA is trading at $1.0549 at press time.

BNB/USD

Binance Coin (BNB) is not an exception to the rule, falling by 1.06%.

From the technical point of view, BNB is looking not as bearish as ADA. However, the price is closer to the support than to the resistance.

If the rate approaches the $700 zone, there is a chance to see a level breakout, followed by a test of the $690 area.

BNB is trading at $711.76 at press time.

About the author

Denys Serhiichuk

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 [email protected].

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