Price Analysis Binance Coin, Solana, and Cardano as Bad Performers

As almost the entire cryptocurrency industry is currently experiencing the worst plunge, even cryptocurrencies such as BNB, SOL, and ADA are not safe from the trend.

The data surrounding Binance Coin (BNB) shows that in the past 24-hours its price plummeted by 9.65%. Due to the plunge, the price of Binance Coin has come down to $461.07 per BNB. In the same period, the trading volume for BNB has surged by 183.06%. The trading volume BNB is observing at present is worth $5,053,552,796.

The surge in the trading volume suggests that Binance Coin is currently experiencing a dip and it may continue doing so due to the bearish trend. At present, the bears have the situation in their favor and they may increase their selling pressure to cause more damage to BNB’s price.

In near future, the price of Binance Coin may experience a dip and may fall down to $440.16 per BNB due to the constant fall. The bears may attempt to launch another selling activity against BNB and dip its price, even more, bringing it down to $420 per BNB.

Solana (SOL) is also facing the same trend as BNB as its price has plunged 12.64% in the past 24-hours. Due to the plunge, the price of SOL has come down to $146.93 per SOL. Even the trading volume for SOL has grown up by 143.76% and it is currently hovering at $2,979,022,152.

The highest price SOL has hit in the past 24-hours is worth $164.91 per SOL. The peak price in the past 24-hours for SOL shows that it hasn’t been able to make much progress throughout the particular time.

This is a clear demonstration that SOL is also currently hovering within the bearish zone. Its price may continue dipping as the investors are supporting a bearish trend. As of now, the bears are pulling the strings and they may move the price of SOL as they please. Due to the constant plunges, the bulls have lost their confidence and they may not make any moves in the upcoming days.

It is being expected that in the upcoming days, the bears may try and pull SOL’s price all the way down to $141.16 per SOL.

Then there is Cardano (ADA) that has observed a 9.75% plunge in its price in the past 24-hours. Due to the plunge, ADA’s price is now trading at $1.20 per share. The trading volume ADA has observed in the past 24-hours is worth $1,751,986,654.

As of now, Cardano is also facing the same situation as the former cryptocurrencies. It is also experiencing a downtrend in its price as it has been experiencing a dip and it may continue given the current bearish nature of Cardano. Until the issue has been resolved, the price of Cardano may continue experiencing a downtrend. It is expected that Cardano’s price may plunge to $1.03 per ADA in near future.