August 3, 2021

Newspay

Bitcoin & Ethereum Blockchain News

BTC, ETH, XRP, ADA and BNB Price Analysis for June 5

The weekend has begun with a neutral mood on the cryptocurrency market as some coins are in the red zone while others are in green.

Source: u.today

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the loser today as its rate has gone down by 2.58% since yesterday.

BTC/USD chart by TradingView

From the technical point of view, Bitcoin (BTC) is trading in a wide range between $32,000 and $40,000. At the moment, neither bulls nor bears are dominating the market.

However, the selling trading volume keeps declining, which means that a move to $42,000 may happen if the resistance is broken.

Bitcoin is trading at $35,923 at press time.

ETH/USD

Ethereum (ETH) has lost less as the price of the main altcoin has declined by 1%.

ETH/USD chart by TradingView

Ethereum (ETH) is trading similarly to Bitcoin (BTC), also in a wide range. The breakout of the levels at $2,040 and $3,110 will be a signal of either bears’ or bulls’ dominance.

Ethereum is trading at $2,637 at press time.

XRP/USD

XRP is also not an exception to the rule as the popular altcoin has declined by 2%.

XRP/USD chart by TradingView

Even though XRP is trading sideways, it is more bearish than bullish as, after a bounceback, the price is coming back and confirming the power of sellers. In this case, there are high chances of seeing the ongoing drop to the level of $0.88 soon.

XRP is trading at $0.93 at press time.

ADA/USD

The rate of Cardano (ADA) has gone down by 1.62%.

ADA/USD chart byTradingView

Cardano (ADA) is trading similarly to XRP as bulls have failed to fix above $1.89. In this case, there are high chances of seeing the retest of $1.50 one more time next week.

ADA is trading at $1.66 at press time.

BNB/USD

Binance Coin is the only gainer from our list, rising by 1.73%.

BNB/USD chart by TradingView

Despite the rise, BNB could not fix above $423, confirming bears’ power. Thus, the buying trading volume has decreased, which means that a retest of the support at $347 may occur within the next few days.

BNB is trading at $390 at press time.