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BTC, ETH, XRP, ADA and BNB Price Analysis for May 26

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Fri, 26/05/2023 - 16:00
BTC, ETH, XRP, ADA and BNB Price Analysis for May 26
Cover image via www.tradingview.com

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Buyers are again back in the game, according to the CoinMarketCap ranking.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has risen by 1.67% over the last 24 hours.

BTC/USD chart by TradingView

Image by TradingView

On the daily chart, the price of Bitcoin (BTC) has continued its growth after yesterday's bullish candle. However, the rate remains far from the resistance, which means that it is too early to think about a reversal.

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But if the candle closes above the $28,000 zone, the upward move may lead to the test of $30,000 soon.

Bitcoin is trading at $26,808 at press time.

ETH/USD

Ethereum (ETH) has followed the growth of Bitcoin (BTC), going up by 1.77%.

ETH/USD chart by TradingView

Image by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as the rate is accumulating power after a retest of the support at $1,737. At the moment, one should focus on the $1,900 zone. If the price fixes above it, there is a chance to see a further rise to $2,000.

Ethereum is trading at $1,832 at press time.

XRP/USD

XRP has outperformed Bitcoin (BTC) and Ethereum (ETH) as its rate has increased by 3.34%.

XRP/USD chart by TradingView

Image by TradingView

The rate of XRP is slowly approaching the resistance at $0.4854 on the daily time frame. The volume has risen, which means that buyers are getting back in the game. If they can hold the gained initiative, the channel breakout may lead to the test of the $0.50 mark soon.

XRP is trading at $0.4640 at press time.

ADA/USD

Cardano (ADA) is the least gainer today, as its rate has increased by only 0.87%.

ADA/USD chart by TradingView

Image by TradingView

On the daily time frame, the rate of Cardano (ADA) has once again bounced back from the support at $0.3531. From the technical point of view, this means that the sellers' pressure continues. However, if the bar can close above the $0.36 zone, the local rise may lead to the test of the resistance at $0.3796.

ADA is trading at $0.3609 at press time.

BNB/USD

The price of Binance Coin (BNB) has increased by almost 1% since yesterday.

BNB/USD chart byTradingView

Image by TradingView

The rate of BNB has made a false breakout of yesterday's bar low at $302.2. If the closure can happen above $310 or near it, there is a high chance to see a sooner test of the resistance at $316.7.

BNB is trading at $307.9 at press time.

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