ADA and BNB Prediction for August 12

Most of the coins have returned to the red zone at the beginning of the week, according to CoinMarketCap.

ADA/USD

The rate of Cardano (ADA) has declined by 3.58% over the last 24 hours.

On the daily chart, the price of ADA is far from the resistance level of $0.3535. Until it is below that mark, bears are more powerful than bulls, and there is a chance to see a further correction to the $0.32 zone.

ADA is trading at $0.3381 at press time.

BNB/USD

Binance Coin (BNB) is less of a loser than ADA, falling by 2.71%.

From the technical point of view, BNB is trading similar to ADA. Currently, the rate is far from key levels. The volume remains low, which means none of the sides is ready for a sharp move.

In this case, ongoing sideways trading in the narrow range of $500-$520 is the more likely scenario until the end of the week.

BNB is trading at $513.70 at press time.

Source