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BTC, ADA, SOL and DOT Price Analysis for May 21

Price Analysis
Sat, 05/21/2022 - 20:15
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Denys Serhiichuk
Has the time arrived for a bounceback?
BTC, ADA, SOL and DOT Price Analysis for May 21
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 the market as none of the top 10 coins could remain in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has continued its fall after it could not hold the $30,000 mark.

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

At the moment, the volatility has fallen, which means that there is less chance to see any sharp moves on the weekend. However, if the rate goes below $29,000, the main crypto might test the zone around $28,000 next week.

Bitcoin is trading at $29,260 at press time.

ADA/USD

Cardano (ADA) has lost less than Bitcoin (BTC) with a drop of 2.25%.

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

Cardano (ADA) is trading similarly to BTC as the altcoin keeps trading sideways against the low volume. But if buyers can seize the initiative and return the rate above the $0.55 mark, short-term growth may lead to the test of $0.55 within the next few days.

ADA is trading at $0.5277 at press time.

SOL/USD

Solana (SOL) is the biggest loser from the list, going down by 6.12%.

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

On the daily chart, Solana (SOL) has lost the important $50 mark, which means that sellers are more powerful than buyers at the moment. If the fall continues, one can expect the test of $44 shortly. Such a scenario is relevant until the end of the month.

SOL is trading at $49.35 at press time.

DOT/USD

Polkadot (DOT) is following the drop of other coins, losing 3.32% over the last 24 hours.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

Polkadot (DOT) has also lost its important level of $10. At the moment, the rate is located close to the support at $8.06, confirming ongoing sellers' pressure. If the daily candle closes at the current levels, the price of the altcoin has all the chances of dropping to $9.

DOT is trading at $9.68 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.