Can Altcoins Switch to Bullish Reversal? Market Attempts Recovery

Can altcoins switch to bullish reversal? The market is attempting to recover after a continued decline. Explore the rise of Cardano (ADA) and Binance Coin (BNB) rates in this article.

Posted 8 months ago in Altcoins


A chart showing the rise of Cardano (ADA) and Binance Coin (BNB) rates

The market is trying to recover after a continued decline, according to the CoinMarketCap ranking. Top coins by CoinMarketCap ADA/USD The rate of Cardano (ADA) has risen by 2.30% over the previous 24 hours. Despite yesterday's bearish closure, buyers could seize the initiative as the price has once again bounced off the support level of $0.2392. If the situation does not change by the end of the day, there is a chance to see a local upward move to the $0.26 zone shortly.

Such a scenario is relevant until the end of the week. ADA is trading at $0.2487 at press time.

BNB/USD Binance Coin (BNB) has followed the rise of ADA, going up by almost 3%.

On the daily chart, the situation is similar to the technical picture of Cardano (ADA) as the rate of BNB has also made a false breakout of the support. If the volume remains on the same level, growth is likely to continue to the $220 range soon.

BNB is trading at $212.2 at press time.

Last updated 9/13/2023, 2:37:22 AM

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