SOL, ADA and BNB Price Analysis for December 16

16 December 2023

in BNB

Reading Time: 2 mins read

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Bears keep dominating at the beginning of the weekend, according to CoinStats.

Top coins by CoinMarketCap

SOL/USD

The rate of Solana (SOL) has dropped by 5.22% over the last 24 hours.

Image by TradingView

Despite today’s fall, the price of SOL is looking more bullish than bearish on the daily chart. If the bar closes above yesterday’s peak, there is a high chance of a test of the resistance level at $77.78 soon.

SOL is trading at $75.66 at press time.

ADA/USD

Cardano (ADA) has lost the most value today, falling by almost 4%.

Image by TradingView

On the daily time frame, traders should focus on the level of $0.60. If the candle closes above it, the upward move may continue to the nearest level of $0.6474 soon. Such a scenario is relevant until the end of the week.

ADA is trading at $0.6184 at press time.

BNB/USD

The price of Binance Coin (BNB) has declined by 1.26% since yesterday.

Image by TradingView

From the technical point of view, the rate of BNB keeps trading in the middle of a wide channel, getting energy for a further move.

In this case, ongoing consolidation in the area of $240-$250 is the more likely scenario for the next days.

BNB is trading at $247 at press time.

About the author

Denys Serhiichuk

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.