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BTC, ADA and BNB Price Analysis for April 26

Tue, 04/26/2022 - 17:07
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Denys Serhiichuk
Can altcoins withstand the bearish move made by Bitcoin (BTC)?
BTC, ADA and BNB Price Analysis for April 26
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is neither bullish nor bearish today as some coins are going up while others keep trading in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) remains almost unchanged since yesterday, dropping by only 0.06%

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) is coming back to the local support level at $38,546 on the daliy chart. If the daily candle fixes around it or below, there is a chance of seeing a sharp drop to the zone of $36,000-$37,000 shortly. Such a scenario is relevant until the end of the month.

Bitcoin is trading at $39,067 at press time.

ADA/USD

Cardano (ADA) is underperforming BTC, going down by 1.10% over the last 24 hours.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Cardano (ADA) is also falling despite the relatively the bullish candle that was recorded yesterday. In case of the further sellers' pressure, the decline may lead the rate of the altcoin below $0.80 within the next few days.

ADA is trading at $0.8560 at press time.

BNB/USD

Binance Coin (BNB) is the biggest loser from the list today, falling by 1.23% since yesterday.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) is trading similar to Cardano (ADA) as it is also coming back to the yesterday's low level. The trading volume is high which means that bulls are not ready yet to seize the initiative. In this case, there is a possibility of seeing a further drop to the $360 mark.

BNB is trading at $390 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.