ADA and BNB Price Analysis for January 22

The new week has started bearish for most of the cryptocurrencies, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has fallen by 3.77% over the last 24 hours.

On the daily chart, the price of ADA remains bearish as the rate keeps trading near the support level. If buyers cannot seize the initiative shortly, one can expect a test of the 0.4617 mark soon.

ADA is trading at $0.4968 at press time.

BNB/USD

Binance Coin (BNB) has lost less than Cardano (ADA), falling by 1.71%.

From the technical point of view, the price of BNB keeps accumulating energy for a further move. The declining volume confirms this statement.

In this regard, ongoing consolidation in the narrow area of $310-$320 is the more likely scenario for the following week.

BNB is trading at $314.3 at press time.

Source