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BTC, ADA and BNB Price Analysis for August 16

August 16, 2022
in News
Reading Time: 2 mins read

The Bears started to take the lead. most coins The top 10 list is in the red zone.

Top Coins on CoinMarketCap

Bitcoin/USD

Bitcoin (BTC) is the main loser today, down 1.36%.

BTC/USD chart by TradingView

Bitcoin (BTC) is $24,000 mark That means bulls may need more time to build up power. Currently, you should pay close attention to the local support level of $23,615. If buyers lose it, the drop could quickly lead to a test of the $23,000 area.

Bitcoin is trading at $23,801 at the time of writing.

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BNB/USD

Binance Coin (BNB) was no exception, dropping 0.93%.

BNB/USD chart by TradingView

Binance Coin (BNB) trades like Bitcoin (BTC). The more likely scenario at the moment is a test of the $305.7 level followed by a false breakout. Such a scenario can occur when the daily candle breaks below $310 on the daily chart.

BNB is trading at $314.3 at the time of writing.

ADA/USD

Cardano (ADA) is down 0.63% and is the so-called Biggest Gainer.

ADA/USD Chart by Trading View

Unlike other coins, Cardano (ADA) is pegged above $0.5472. If the situation does not change by the end of the day, the rally could continue to the $0.60 zone test.

ADA is trading at $0.5586 at the time of writing.

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