Binance Coin ($BNB), Uniswap ($UNI), and Cardano ($ADA) Price Analysis: 17th August 2022

‍Binance Coin ($BNB) Analysis 17th August 2022

Over the previous month, Binance Coin ($BNB) has shown significant growth, as visible in the chart above. 

From a support level of $221.2, the coin experienced a steep rise to reach resistance at $324.71. 

$BNB had also been a victim of the terrible bearish conditions of the market. However, as the market is slowly attempting recovery, $BNB experienced great support from the holders. 

During the previous week, however, the coin was subjected to aggressive selling pressure, which in turn, affected the price to plummet. 

At press time, $BNB traded at 310.3. The Stoch RSI, as well as the MACD, were both indicative of the latest plunge. Both the technicals and the moving averages were indicative of a strong sell at the moment.

Uniswap ($UNI) Analysis 17th August 2022

Uniswap ($UNI) followed a similar trajectory as that of $BNB. From support at the $3.72 level back on the 19th of June, the coin experienced considerable support from the buyers. 

Since then it reached resistance at $9.02 on 29th July. Since then, the alt traded sideways. Over the past 5 days, selling pressure has kicked in and the coin dropped to $8.13, the price at which it was trading at the time of writing.

The technicals pointed to a strong sell at the moment followed by the Moving Averages.

Cardano ($ADA) Analysis 17th August 2022

After months of speculation, Cardano ($ADA) is finally showing some signs of improvement. There is much hope for the alt, owing to its amazing roadmap. However, against all hopes, Cardano has been underperforming for quite some time. 

Fortunately, from the 13th of July, the alt has been performing well, marking higher lows consecutively. During press time, $ADA traded at $0.357. The technicals and the moving averages all point to a strong sell at the moment.