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Cardano fell to new all-time lows on Saturday as prices fell more than 10% to start the weekend. The move saw the token fall for the third consecutive session as a red wave swept through the cryptocurrency markets. The Binance coin also moved lower, falling for the seventh day in a row.

Cardano (ADA)

To start the weekend, Cardano (ADA) headed for new all-time lows as prices fell for the third consecutive session.

After hitting a high of $0.3011 on Friday, ADA/USD hit a low of $0.2603 early in today’s session.

The move saw the token fall nearly 13% earlier in the day to a new all-time low.

The biggest driving forces.  ADA hits new record high, BNB falls for seventh straight day
ADA/USD – Daily Chart

Looking at the chart, the decline is occurring as the 10-day (red) moving average has crossed its 25-day (blue) comparison.

This signals a shift in price momentum and comes after the Relative Strength Index (RSI) dipped deeper into oversold territory.

At the time of writing, the index is holding at 24.13, its weakest point since October 21.

Binance Coin (BNB)

Binance Coin (BNB) was another prominent bearish sign today as prices fell for the seventh consecutive session.

The latest declines came after financial firm Mazars stopped auditing Binance’s reserves.

As a result, BNB/USD fell to a low of $221.00, which comes a day after hitting a high of $264.25.

The biggest driving forces.  ADA hits new record high, BNB falls for seventh straight day
BNB/USD – Daily chart

Overall, the token is now down almost 20% over the past week and is down 10.88% at the time of writing.

Similar to Cardano, the RSI on BNB is currently trading near the 24.00 mark, which is in oversold territory.

BNB is currently trading at its lowest point since July 13th.

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What other factors are behind today’s fall in crypto prices? Let us know your thoughts in the comments.

Eliman Dumbledore

Elliman brings an eclectic perspective to market analysis, having previously been a brokerage director and retail educator. He currently acts as a commentator on various asset classes including Crypto, Stocks and FX.




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