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Bears have seized the initiative, according to the CoinMarketCap ranking.
The rate of Cardano (ADA) has declined by 5.63% since yesterday.
The price of ADA keeps falling after a false breakout of the resistance level of $0.3951. If today’s bar closes near yesterday’s low, the decline is likely to continue to the area of $0.34 until the end of the week.
ADA is trading at $0.3603 at press time.
Binance Coin (BNB) has followed the drop of ADA, going down by 2.45%.
From a technical point of view, the rate of BNB is on its way to testing the support level of $238.1.
If that daily candle closes near it, the accumulated power might be enough for a more profound decline to the $230 zone.
BNB is trading at $240.8 at press time.