CRYPTO: Cardano, Binance Coin, Solana Price Analysis: 10 October

Cardano, Binance Coin, Solana Price Analysis: 10 October

Cryptocurrencies continued to trade in the green on 10 October. The global cryptocurrency market cap noted a 0.69% increase to reach $2.29 trillion, however, the market volume decreased by 15.86% over the last 24 hours. Cardano showed positive price action, meanwhile, Binance Coin and Solana appeared to be in for some difficult days ahead.

Cardano (ADA)

ADA/USD,TradingView

Cardano shot up by nearly 0.34% over the last 24 hours and was trading at $2.27, at the time of writing. The resistance mark stood at $2.9 while the price seemed to be consolidated near $2.1. Technical indicators showed signs of bullish price action.

Relative Strength Index for most sessions remained above the mid-line, indicating that the momentum belonged to the buyers. MACD approached a bullish crossover pointing towards an uptrend. Awesome Oscillator flashed medium-sized green bars on its histogram giving a strong hint to buyers.

Binance Coin (BNB)

BNB/USD, TradingView

Since bouncing back from the low seen on 26 September, BNB’s price oscillated within the confines of an up-channel. However, its price dropped by 0.50% to $420 in the last 24 hours, at press time.

A macro view suggested that the prices showed recovery owing to buyers resurfacing in the market since the end of last month. Relative Strength Index stood near the 60-mark over a majority of recent sessions, indicating the price momentum belonged to the buyers. However, at press time, it was seen below the 50-mark.

MACD approached a bullish crossover at the beginning of this month, however, it flashed red signal bars over its latest session. Awesome Oscillator displayed bullishness with its green histogram bars.

Solana (SOL)

SOL/USD, TradingView

Solana fell by 3.15% to reach $154 in the last 24 hours. The overhead resistance was capped at $202. Since the beginning of this month, Solana has been making slow progress, however, the price appeared to be consolidated near the $150 mark.

Relative Strength Index was close to oversold levels and a near-term reversal looked probable. MACD’s trajectory shifted below the mid-line in its latest session which indicated, selling pressure in the market can’t be ruled out.

Awesome Oscillator with red signal bars signified a bearish inclination which points toward trend reversal.

This article was first written on yusmid.com


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