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

Price Predictions
Sat, 06/05/2021 - 15:26
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Denys Serhiichuk
Can popular altcoins withstand the decline of Bitcoin (BTC) and grow?
BTC, ETH, XRP, ADA and BNB Price Analysis for June 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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The weekend has begun with a neutral mood on the cryptocurrency market as some coins are in the red zone while others are in green.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the loser today as its rate has gone down by 2.58% since yesterday.

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

From the technical point of view, Bitcoin (BTC) is trading in a wide range between $32,000 and $40,000. At the moment, neither bulls nor bears are dominating the market.

Related
Bitcoin (BTC) Price Analysis for June 4

However, the selling trading volume keeps declining, which means that a move to $42,000 may happen if the resistance is broken.

Bitcoin is trading at $35,923 at press time.

ETH/USD

Ethereum (ETH) has lost less as the price of the main altcoin has declined by 1%.

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

Ethereum (ETH) is trading similarly to Bitcoin (BTC), also in a wide range. The breakout of the levels at $2,040 and $3,110 will be a signal of either bears' or bulls' dominance.

Ethereum is trading at $2,637 at press time.

XRP/USD

XRP is also not an exception to the rule as the popular altcoin has declined by 2%.

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

Even though XRP is trading sideways, it is more bearish than bullish as, after a bounceback, the price is coming back and confirming the power of sellers. In this case, there are high chances of seeing the ongoing drop to the level of $0.88 soon.

XRP is trading at $0.93 at press time.

ADA/USD

The rate of Cardano (ADA) has gone down by 1.62%.

ADA/USD chart byTradingView
ADA/USD chart byTradingView

Cardano (ADA) is trading similarly to XRP as bulls have failed to fix above $1.89. In this case, there are high chances of seeing the retest of $1.50 one more time next week.

ADA is trading at $1.66 at press time.

BNB/USD

Binance Coin is the only gainer from our list, rising by 1.73%.

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

Despite the rise, BNB could not fix above $423, confirming bears' power. Thus, the buying trading volume has decreased, which means that a retest of the support at $347 may occur within the next few days.

BNB is trading at $390 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.