BTC, ADA and BNB Price Analysis for December 30
Can the main cryptocurrencies show strength against the ongoing bearish pressure?
Bulls are losing their power as most of the coins have come back to the red zone again.
BTC/USD
Yesterday, the Bitcoin price consolidated in a sideways range in the area of the $47,745 level. By the end of the day, the bulls’ defense was broken and the pair fell to the support of $46,000.
Tonight, after retesting the $46,000 mark, the BTC price bounced back. The volume of purchases is not very large yet, and the rebound itself is not high.
At the same time, on the daily time frame, the Stoch RSI indicator left the neutral area and reached the border of the oversold zone. This suggests that the market may continue to decline until a reversal signal is formed. One believes that today the fall can slow down, and the price might try to consolidate in the support area of $46,000.
Bitcoin is trading at $47,424 at press time.
BNB/USD
Binance Coin (BNB) has followed the drop of Bitcoin (BTC), going down by 1.45% over the last day.
Despite the fall, the native exchange coin is trading in the wide channel as the price remains above the vital support at $489.
In this case, there is a good chance to see continuous sideways trading between the mark of $500 and the zone of the most liquidity around $580.
BNB is trading at $521.7 at press time.
ADA/USD
Cardano (ADA) is the biggest loser from the list, declining by 2.31% since yesterday.
Cardano (ADA) is trading similarly to Binance Coin (BNB) as it is located in the middle of the wide channel. Currently, neither bulls nor bears are controlling the situation. If the price remains trading above $1.3, there is a possibility to see a slight growth to the purple resistance line at $1.479.
ADA is trading at $1.362 at press time.
