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BTC, ADA, BNB, LUNA and SOL Price Analysis for April 5

Price Analysis
Tue, 04/05/2022 - 16:01
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Denys Serhiichuk
Which cryptocurrency can withstand a market correction?
BTC, ADA, BNB, LUNA and SOL Price Analysis for April 5
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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Bulls have turned out to be more powerful than bears as most of the coins are again trading in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.68% over the last 24 hours.

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

Despite the slight growth, Bitcoin (BTC) could not overcome the $47,000 mark. In addition, the buying trading volume has declined, which means that the buyers are not ready to keep the rise from the current levels. In this case, there is a high chance to see the test of the $44,700 level again.

Bitcoin is trading at $45,888 at press time.

ADA/USD

Cardano (ADA) has also gone down, falling by 3.70% since yesterday.

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

Cardano (ADA) is going down after a failed attempt to fix above the resistance at $1.246. Currently, bears are more powerful than bulls, which means that the ongoing drop may continue to the zone around $1.150. If sellers break this mark as well, one can expect a decrease to the psychological $1 level.

ADA is trading at $1.188 at press time.

BNB/USD

Binance Coin (BNB) is an exception to the rule, going up by 1.85% over the past 24 hours.

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

Binance Coin (BNB) has made a false breakout of the $455 mark. The rise has not been accompanied by a high trading volume, which means that buyers are weak and lack energy for further growth.

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That is why the rollback to the $440 mark is the more likely scenario for the upcoming days.

BNB is trading at $450 at press time.

LUNA/USD

Unlike other coins, LUNA is the biggest gainer from the list today as the price of altcoin has rocketed by 5.33%.

LUNA/USD chart by Trading View
LUNA/USD chart by Trading View

LUNA is trading similar to BNB as it could not set a new peak. The false breakout means that there is a chance to see the correction if the daily candle fixes below $118. In this regard, the fall may lead to the test of the local support at $109.31 shortly.

LUNA is trading at $116.44 at press time.

SOL/USD

The price of Solana (SOL) is also unchanged since yesterday. The growth has accounted for only 0.36% over the last day.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

Solana (SOL) is going down after the test of the $140 mark. At the moment, the price is on the way to yesterday's low at $125.82. If bulls break it, the decline may continue up to the area around $120 by the end of the week.

SOL is trading at $130.24 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.