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BTC, ADA and BNB Price Analysis for October 31

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Sun, 31/10/2021 - 14:19
BTC, ADA and BNB Price Analysis for October 31
Cover image via www.tradingview.com

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Bulls may have started fixing their profit as all of the top 10 coins have entered the red zone on the last day of the week.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has gone down by 2% since yesterday while its price has remained the same over the past seven days.

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BTC/USD chart by TradingView

After a false breakout of the support at $56,560, Bitcoin (BTC) could not keep the rise and fixed above the $62,000 mark. Even though the selling trading volume is low, the decline may continue as buyers do not seem very interested in buying at the moment.

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In this case, if bears break the support, the fall may lead BTC to $53,000 next week.

Bitcoin is trading at $60,390 at press time.

ADA/USD

Cardano (ADA) is the main loser from the list, declining by 2%.

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ADA/USD chart by TradingView

Cardano (ADA) is looking even worse than Bitcoin (BTC) as it is coming back to the support after a false breakout. Respectively, the breakout of $1.822 might be a huge bearish signal and get ADA back to $1.50 soon.

ADA is trading at $1.937 at press time.

BNB/USD

Despite today's decline, Binance Coin (BNB) has risen by 8% over the last week.

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BNB/USD chart by TradingView

Binance Coin (BNB) is about to break the support at $509.70 as bulls are out of power to keep the rise going. In this regard, there is a high probability of seeing the continued decline of the native exchange coin to the area of the most liquidity around $487 soon.

BNB is trading at $513.40 at press time.

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