BNB, ADA and SOL Prediction for August 16

Sellers are keeping the pressure on, according to CoinMarketCap.

ADA/USD

The price of Cardano (ADA) has dropped by 4% over the last day.

On the daily chart, the rate of ADA is coming back to the vital level of $0.3165. If it breaks out, the power might be enough for a test of the $0.30 range soon.

ADA is trading at $0.3247 at press time.

BNB/USD

Binance Coin (BNB) is less of a loser than ADA, falling by 2.57%.

From the technical point of view, the price of BNB is in the middle of the narrow channel, gaining energy for a further move.

As none of the sides is dominating at the moment, ongoing sideways trading in the area of $510-$530 is the more likely scenario.

BNB is trading at $517 at press time.

SOL/USD

Solana (SOL) is not an exception to the rule, declining by 4.42%.

The price of SOL is testing yesterday’s low of $137.78. If buyers cannot seize the initiative until the end of the day, the breakout may lead to a drop to the $130 mark.

SOL is trading at $138.68 at press time.

Source