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BTC, ADA and BNB Price Analysis for November 6

Price Predictions
Sat, 11/06/2021 - 16:26
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Denys Serhiichuk
Has Bitcoin (BTC) accumulated enough strength to rise faster than altcoins?
BTC, ADA and BNB Price Analysis for November 6
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 weekend has begun with the fall of some coins, while others remain in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has gone down by 1% over the last 24 hours.

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

On the daily chart, Bitcoin (BTC) keeps trading in a wide range between the support at $56,560 and the resistance at $67,000. The trading volume is low, which means that the coin is accumulating power for a sharp move.

Related
Solana (SOL) Price Analysis for November 3

At the moment, one needs to wait until BTC approaches either the support or resistance. In case it goes below $56,560, bears might come back and seize the initiative.

Bitcoin is trading at $61,012 at press time.

BNB/USD

Binance Coin (BNB) is the main gainer today as the native exchange coin has increased by 2.43% since yesterday.

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

Despite the rise, Binance Coin (BNB) keeps going up after it fixed above the vital $600 mark. The rise is accompanied by a high trading volume, which means that bulls are ready to keep the rise. If the situation continues, one may expect the attempt to get to another crucial level at $700 within the nearest days.

BNB is trading at $617 at press time.

ADA/USD

Cardano (ADA) is trading almost at the same level as yesterday, going down by 0.26%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) is looking more bearish than Bitcoin (BTC) or Binance Coin (BNB) as it could not fix above the area of $2. In terms of the nearest price prediction, the sideways trading is about to continue between the support at $1.832 and the liquidity zone at $2.118.

Related
Ethereum (ETH) Price Analysis for November 3

The mid-term picture remains bullish until sellers break the support and fix below it.

ADA is trading at $1.987 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.