Cardano and Binance Coin remain bullish as alt season continues
Last Updated on 17 July 2022 by CryptoTips.eu
The crypto market continues to display a bullish trend as the weekend has been favourable with a majority of the coins in the green zone. Leading coin Bitcoin has been able to stave off the recent drop in price and is currently valued at $9,261.
It is expected that the Bitcoin price will test the $9,500 resistance point that has been stopping the coin from making a surge towards the $10,000 mark.
Altcoins meanwhile continue to gain on Bitcoin with a number of coins already hitting all-time highs like Chainlink. The last 24 hours has seen Cardano and Binance Coin make solid gains.
Binance Coin Price Analysis
Binance Coin (BNB) has enjoyed an increase in value of 6.81% in the past 24 hours. At the time of publication, BNB is being traded for $18.42 and is one of the best performing coins in the market. The native coin of the leading crypto exchange in the world Binance, has been able to enjoy steady growth with Binance announcing new developments within its ecosystem.
Looking at the current trend, the next resistance level for the coin is $19 but reverse in fortunes could see the coin drop to its support level of $18.2- $18.
Cardano Price Analysis
Cardano (ADA) is one of the coins that has enjoyed steady growth since the start of July. This recent rise could be linked to the recent developments on its blockchain with regards the release of its highly anticipated mainnet Shelley.
Cardano experienced a 3% increase in its value and currently trades for $0.122811 at the time of writing. ADA is expected to continue in this trend with the launch of Shelley expected to occur in August.
If the market continues in this bullish run, ADA could hit higher points in the coming week.
