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BTC, ADA and BNB Price Analysis for May 2

Price Analysis
Mon, 05/02/2022 - 15:58
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Denys Serhiichuk
Which coins can come back to a bullish rise this month?
BTC, ADA and BNB Price Analysis for May 2
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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While the majority of the top 10 coins are going up, the rate of Solana (SOL) is falling by 0.59%.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the biggest gainer today, going up by 2% over the last 24 hours.

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

Bitcoin (BTC) has successfully bounced off the level of $37,700, which means that bulls are not ready to give up so easily. If the trading volume increases and the daily candle fixes above the $39,000 mark, the price might return to the zone of $40,000 until the end of the week.

Bitcoin is trading at $38,847 at press time.

BNB/USD

Binance Coin (BNB) is following the rise of Bitcoin (BTC), going up by 1.37%.

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

Despite today's slight growth, the native exchange coin keeps trading in a wide range, accumulating energy for a further sharp move. At the moment, bears are more powerful than bulls as the price is still below the vital $400 mark. However, if buyers can seize the initiative, the upward move may lead to a test of the area of $420 shortly.

BNB is trading at $388 at press time.

ADA/USD

Cardano (ADA) has risen the least today as its rate has gone up by less than 1%.

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

Cardano (ADA) is slightly approaching the support level of $0.6856 on the daily chart. In addition, this move is supported by the rising selling trading volume, which means that bears might keep their pressure. Respectively, if nothing changes, closure in the area of $0.75 and below might be a prerequsite for a sharp drop to the $0.70 mark.

ADA is trading at $0.7793 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.