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The new month has started bearish for the majority of cryptocurrencies, according to CoinStats.
The rate of Cardano (ADA) has declined by 5.62% over the last 24 hours.
The price of ADA has once again failed to fix above the $0.65 zone, which means that traders are more likely to expect a correction than growth.
If the daily bar closes around current levels, there is a high chance to see a test of support soon.
ADA is trading at $0.5687 at press time.
Binance Coin (BNB) is not an exception to the rule, going down by 4.16%.
On the daily time frame, the price of BNB has lost the important zone of $600. If buyers cannot get back in the game shortly, the correction may lead to the test of the $550 area by the end of the week.
BNB is trading at $581.6 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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