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BTC, ETH, XRP, ADA and BNB Price Analysis for February 5

Sat, 02/05/2022 - 15:28
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Denys Serhiichuk
Which altcoins can continue rising faster than Bitcoin (BTC)?
BTC, ETH, XRP, ADA and BNB Price Analysis for February 5
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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Bulls are keeping the growth going as the prices of all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 8.75% over the last 24 hours.

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

On the daily chart, Bitcoin (BTC) broke the resistance level at $39,573 and fixed above it. Currently, one needs to pay close attention to the area around $42,000. If bulls can get to this zone, there are chances to see a continued rise to $45,000 next week.

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BTC, ETH, BNB, ADA, AVAX and SOL Price Analysis for February 3

If buyers fail to do that, one may expect a decline to the formed mirror level at $39,300.

Bitcoin is trading at $41,446 at press time.

ETH/USD

Ethereum (ETH) has gained less than Bitcoin (BTC) with a rise of 6.38%.

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

Ethereum (ETH) is trading around the resistance at $3,034. If bulls can break this level, the growth may continue to the area of $3,500. In case of a false breakout, the decline may lead the rate of the chief altcoin to $2,815.

Ethereum is trading at $3,018 at press time.

XRP/USD

XRP is trying to show similar performance as BTC, going up by almost 9%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the growth, XRP has not left the channel, located between the support at $0.5461 and the resistance at $0.6959. At the moment, the rate is coming close the $0.68 mark against increased trading volume. In case of a breakout, there are chances to see the test of the liquidity zone around $0.80 next week.

XRP is trading at $0.6710 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule, rising by almost 10%.

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

Cardano (ADA) is trading similarly to XRP as it is also located near its resistance level at $1.188. However, the buying volume is going down, which means that bulls may have faced some obstacles on the way. In this case, the more likely scenario is ongoing sideways trading around $1.11.

ADA is trading at $1.154 at press time.

BNB/USD

Binance Coin (BNB) is the biggest gainer from the list today as its rate has rocketed by 12% since yesterday.

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

BNB broke the resistance at $405, having confirmed the bulls' power. If the trading volume increases, the rise may continue to the vital mark around $500. Such a scenario is relevant until the end of the upcoming week.

BNB is trading at $421.6 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.