Main navigation

BTC, ETH and BNB Price Analysis for March 6

Price Predictions
Sat, 03/06/2021 - 14:28
article image
Denys Serhiichuk
Which #coins are ready to blast in the near term?
BTC, ETH and BNB Price Analysis for March 6
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.

Read U.TODAY on
Google News

The weekend has begun with a fast bounceback of the cryptocurrency market, as Cardano (ADA) is the only coin from the top 10 list that is trading in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key information for Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$899,441,255,633 $47,272.74 $41,253,238,763 0.05%

Ethereum

ETH

$180,206,019,129 $1,530.85 $19,802,189,034 4%

Binance Coin

BNB

$34,903,365,961 $220.28 $4,736,840,353 -1.59%

BTC/USD

The rate of Bitcoin (BTC) has remained the same since yesterday. The price change is only 0.05%.

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

From the technical perspective, a decline is more likely than a rise as bulls could not fix above the $50,000 mark.

Related
BTC, XRP, BNB and ADA Price Analysis for March 5

In this case, a high MA 50 might occur soon. This is why traders should expect a drop to the area around $42,500.

Bitcoin is trading at $47,200 at press time.

ETH/USD

Ethereum (ETH) is the top gainer today as its rate has risen by 4%.

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

Despite the growth, Ethereum (ETH) could not break the falling channel. It means that buyers are not ready to rise from the current levels. All in all, bears might seize the short-term initiative and push the leading altcoin to the zone around $1,350.

Ethereum is trading at $1,530 at press time.

BNB/USD

Binance Coin (BNB) is the top loser today as the rate of the native exchange token has dropped by 1.59% over the last 24 hours.

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

At the moment, neither bulls nor bears are dominating. As a more likely scenario, one might see a retest of the nearest support at $202. If bears break it, the decline may continue to the zone around $180.

Binance Coin is trading at $222 press time.

 
article image
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.