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

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Sat, 5/03/2022 - 14:40
BTC, ADA, BNB, LUNA and SOL Price Analysis for March 5
Cover image via www.tradingview.com

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The weekend has begun with an ongoing fall for most of the coins from the top 10 list.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 6% over the last day.

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

Bitcoin (BTC) has entered the bearish zone after the breakout of the support level at $40,000. The selling trading volume remains high, which means that the fall may continue.

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BTC, ADA, BNB, AVAX and LUNA Price Analysis for March 3

In this case, the price decrease may get the price of the main crypto to the next support at $34,000.

Bitcoin is trading at $39,043 at press time.

ADA/USD

Cardano (ADA) has lost less than Bitcoin (BTC) as the price drop has accounted for 2.95%.

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

On the daily chart, Cardano (ADA) remains trading above the support level at $0.81, which means that bulls keep controlling the situation on the market.

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BTC, DOGE and SHIB Price Analysis for March 2

However, if the pressure continues and a breakout occurs, the fall may get to the $0.70 mark next week.

ADA is trading at $0.86 at press time.

BNB/USD

Binance Coin (BNB) has followed the decline of BTC, going down by 4.23%.

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

From the technical point of view, the rate is located in the middle of the wide channel between the support at $336 and the resistance at $443. Until the price is below the important $400 mark, bears remain more powerful than bulls. In this case, there is a high possibility to see the test of the $336 mark soon.

BNB is trading at $379 at press time.

LUNA/USD

LUNA is the biggest loser from our list today as the coin has fallen by 7.53%.

LUNA/USD chart by TradingView
LUNA/USD chart by TradingView

Currently, the price is below the level of $86, which means that sellers prevail over buyers. If nothing changes and bulls cannot seize the initiative, there is a chance to see a continued decrease below the vital $80 mark. Such a scenario is relevant until the end of the upcoming week.

LUNA is trading at $83.73 at press time.

SOL/USD

Solana (SOL) is no exception to the rule, going down by 4.77%.

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

Solana (SOL) remains weak as it could not come back to the zone around $100. At the moment, it is approaching the support level at $75. If the daily candle fixes below it, one can expect a sharp drop to the area of $50-$60 shortly.

SOL is trading at $88.49 at press time.

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