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BTC, ETH, ADA, BNB and TRX Price Analysis for May 29

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Sun, 29/05/2022 - 18:30
BTC, ETH, ADA, BNB and TRX Price Analysis for May 29
Cover image via www.tradingview.com

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Most of the coins have come back to the previous levels as they are located in the green zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Despite today's slight rise, the rate of Bitcoin (BTC) has gone down by 2.24% over the last seven days.

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

Bitcoin (BTC) remains trading above $29,000, which means that the growth may continue next week if they can hold the initiative. In this case, one should pay attention to the $30,000 mark, the test of which may be a prerequisite for the local trend change.

Related
Bitcoin (BTC) Price Analysis for May 28

In this case, the upward move can lead to the growth of the resistance around $33,000.

Bitcoin is trading at $29,329 at press time.

ETH/USD

Ethereum (ETH) has lost more than Bitcoin (BTC) in terms of the weekly price change with a decline of 10%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) has come back above the $1,800 mark, which is also locally bullish for the main altcoin. If the buying trading volume increases, there are chances to expect the test of the $1,900 zone next week.

Ethereum is trading at $1,808 at press time.

BNB/USD

The rate of Binance Coin (BNB) has also gone down over the last seven days.

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

On the daily time frame, the native exchange coin has returned above the important $300 mark. Thus, the rate is not far away from the resistance, which means that there is a possibility to see a rise to the $336 level soon.

BNB is trading at $304.8 at press time.

ADA/USD

Cardano (ADA) is the biggest loser from the list in terms of weekly change with a drop of 12%.

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

Unlike other coins, Cardano (ADA) remains bearish as the bulls could not return the rate to the $0.50 mark. Respectively, until the price is below it, there are more chances to see a further decrease to the support at $0.3974 than a bounceback.

ADA is trading at $0.4740 at press time.

TRX/USD

TRX is the only coin located in the green zone as the growth has constituted 7% over the previous week.

TRX/USD chart by TradingView
TRX/USD chart by TradingView

Despite the rise, TRX has not accumulated enough power for a continued rise based on the low volume. However, if the upward move continues to the $0.085 mark, there is chance to see the retest of the $0.08987 resistance shortly.

TRX is trading at $0.08155 at press time.

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