Saturday, June 10, 2023

Crypto Price Prediction: BNB (BNB), Cardano (ADA), and Polygon (MATIC)

  • BNB, Cardano, and Polygon were looking to break key resistance areas as the cryptocurrency prices rallied on Wednesday night.

  • All major US indices ended the day higher in stocks, while bitcoin bounced back above $27,400.
  • Other coins to see gains include XRP, Dogecoin, and Litecoin.

The cryptocurrency market is mostly flat today after a slow week for the broader market amid investor caution over US debt ceiling sentiment. Higher and the S&P 500 and Nasdaq closed at +1.2%.

In crypto, Bitcoin (BTC) was changing hands just above $27,000, Ethereum (ETH) was at $1,824, and XRP (XRP), one of the top 10 cryptocurrencies currently, was trading near 45 cents.

Binance Coin (BNB), Cardano (ADA), and Polygon (MATIC) were among the altcoins that saw a slight rally, while XRP, Litecoin, and Dogecoin were also up.

Here is a short term price prediction for BNB, ADA and MATIC.

BNB Price (BNB)

At the time of writing BNB is trading at $314, almost 1% in the green after the bulls came out to defend the $310 area.

However, the 20-day EMA ($317) and the 50-day EMA (319) are providing a key resistance area. With the moving averages suggesting further weakness, the bears might attempt to push the price below the strong support at $300. If successful, the BNB/USD pair could extend the decline towards $270.

On the other hand, if price bounces off support and BNB sees fresh demand, a rise in select EMAs could give buyers some breathing room to target barriers in the $330-$350 range.

Crypto price prediction: bnb (bnb), cardano (ada) and polygon (matic)

Cardano Price (ADA)

Cardano was above $0.37 at the time of writing. Although ADA/USD is up 3% in the last 24-hours and broke above a key horizontal line, the bulls are not yet clean. To propel the price higher, buyers need to break above $0.40 to target the recent uptrend peak at $0.40.

If the bears manage to take control, the ADA/USD pair could decline to $0.30.

Crypto price prediction: bnb (bnb), cardano (ada) and polygon (matic)

Price of Polygon (MATIC)

Polygon is currently trading at $0.87, up almost 5% over the past 24 hours.

The bulls might try to push the price above the $0.91 resistance line. If successful, the MATIC/USD pair is targeting the psychological $1.00 zone, with the potential to retest the supply wall near $1.20.

On the other hand, if the price declines and breaks below the new range support, further weakness could provide an incentive for the bears to target $0.70.

Crypto price prediction: bnb (bnb), cardano (ada) and polygon (matic)

World Nation News Desk
World Nation News Desk
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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