SOL, ADA and BNB Price Analysis for December 16

Bears keep dominating at the beginning of the weekend, according to CoinStats.

SOL/USD

The rate of Solana (SOL) has dropped by 5.22% over the last 24 hours.

Despite today’s fall, the price of SOL is looking more bullish than bearish on the daily chart. If the bar closes above yesterday’s peak, there is a high chance of a test of the resistance level at $77.78 soon.

SOL is trading at $75.66 at press time.

ADA/USD

Cardano (ADA) has lost the most value today, falling by almost 4%.

On the daily time frame, traders should focus on the level of $0.60. If the candle closes above it, the upward move may continue to the nearest level of $0.6474 soon. Such a scenario is relevant until the end of the week.

ADA is trading at $0.6184 at press time.

BNB/USD

The price of Binance Coin (BNB) has declined by 1.26% since yesterday.

From the technical point of view, the rate of BNB keeps trading in the middle of a wide channel, getting energy for a further move.

In this case, ongoing consolidation in the area of $240-$250 is the more likely scenario for the next days.

BNB is trading at $247 at press time.

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