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BTC, ETH, BNB and ADA Price Analysis for May 3

Price Predictions
Mon, 05/03/2021 - 16:30
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Denys Serhiichuk
How great are the coins' chances to set new peaks?
BTC, ETH, BNB and ADA Price Analysis for May 3
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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Despite the drop on the weekend, the cryptocurrency market has recovered and kept its rise steady. Most of the top 10 coins are located in the green zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

BTC/USD

Monday has begun with the bounceback of the main crypto from the liquidity level at $56,000 that had confirmed bulls' power.

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

On the daily chart, Bitcoin (BTC) is looking bullish despite short-term corrections. The buyers are accumulating strength before the continued rise based on the trading volume.

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BTC, ETH, XRP, BNB and LINK Price Analysis for May 1

As the more likely scenario, the growth may last to the unclosed gap in the area of $60,500.

Bitcoin is trading at $57,920 at press time.

ETH/USD

Ethereum (ETH) has broken the vital mark at $3,000 and keeps rising. The growth over the last day is 8.34%.

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

The breakout was accompanied by an increasing trading volume, which means that buyers may have begun fixing their positions by now. Even though the long-term trend remains bullish, and $3,000 may not be the peak, there are chances to see a retest of the mirror level at $2,950 soon.

Ethereum is trading at $3,164 at press time.

ADA/USD

Compared to Ethereum (ETH), the rate of Cardano (ADA) has not increased much. The price change is only +1% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

From the technical point of view, Cardano (ADA) is not ready to grow now as the accumulation has not ended yet. The coin is trading within a narrow range, which means that the price change might occur soon. In this regard, the bullish scenario with the target at $1.54 is the more likely scenario for the upcoming days.

Cardano is trading at $1.35 at press time.

BNB/USD

Unlike Cardano (ADA), Binance Coin (BNB) has already accumulated enough power for growth.

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

Binance Coin (BNB) is on its way to the vital $700 mark. However, there might be a slight correction from there as there is not enough power to keep the rise going. If that happens, a drop is possible to the area of the most liquidity at $600.

BNB is trading at $661 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.