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ADA and BNB Price Analysis for October 31

31 Oct, 20222 min readAnalytics
ADA and BNB Price Analysis for October 31

Even though Monday started with a price uptick, bulls could not seize the initiative as some coins faced a correction.

BNB/USD

Binance Coin (BNB) has kept rising today, going up by 4%.

Binance Coin (BNB) has made a false breakout of the resistance level at $336.3 against the increased volume. If the bar closes near it or even above, it might be a prerequisite for the continued rise of the native exchange coin to the $360 zone. However, if that does not happen, one can expect a slight correction to $310 within the nearest few days.

BNB is trading at $325 at press time.

ADA/USD

Cardano (ADA) has not followed the rise of BNB, falling by 1.43% over the last 24 hours.

From the technical point of view, Cardano (ADA) is neither bullish nor bearish as the price keeps trading sideways, accumulating power for the next move. If buyers want to see the rise of ADA, they should get back the rate to the $0.43 zone. But if bulls lose the $0.40 mark, the possible fall may lead to the test of $0.38 shortly.

ADA is trading at $0.402 at press time.

Source

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