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BNB and SOL Price Analysis for March 5

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Sun, 5/03/2023 - 12:14
BNB and SOL Price Analysis for March 5
Cover image via www.tradingview.com

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The last day of the week is neither bullish nor bearish as the rates of some coins are rising while others keep falling.

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Top coins by CoinMarketCap

BNB/USD

Binance Coin (BNB) has gained the most value from the list today, going up by 0.30%.

BNB/USD chart by TradingView

Despite the slight rise, Binance Coin (BNB) remains more bearish than bullish as the price stays near the support at $281.1. Thus, the selling volume is low, confirming the absence of buyers. If bulls want to seize the initiative, they need to restore the rate above the vital $300 zone.

BNB is trading at $290.5 at press time.

SOL/USD

The rate of Solana (SOL) has increased by 0.14%.

SOL/USD chart by TradingView

From the technical point of view, Solana (SOL) is trading similarly to Binance Coin (BNB) as its price is also located near the support. If bears' pressure continues and the candle closes near the $20 mark, one can expect a breakout followed by an impulse to the $19 zone and below. Such a scenario is relevant until the end of the upcoming week.

SOL is trading at $21.26 at press time.

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