ADA and BNB Price Analysis for October 8

While most of the coins are falling, the rate of XRP is rising by 5.14%.

ADA/USD

The rate of Cardano (ADA) has risen by 0.21% over the last 24 hours.

Despite the slight rise today, Cardano (ADA) remains under sellers’ pressure as bulls could not fix the price above the $0.43 zone. If the drop to $0.42 continues, it might generate a sharp downward move to the nearest support area around $0.4150.

Such a scenario might happen within the nearest few days.

ADA is trading at $0.4248 at press time.

BNB/USD

Binance Coin (BNB) could not follow the rise of Cardano (ADA), going down by 0.48%.

On the daily chart, Binance Coin (BNB) has reached the middle of the wide channel, confirming the neutral mode on the market. If the drop continues to the $270 mark, one can assume that bears have become more powerful than bulls again. However, the more likely price action is ongoing trading in the range of $280-$290.

BNB is trading at $280.8 at press time.

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