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BTC, ETH, XRP and ADA Price Analysis for May 13

Price Predictions
Thu, 05/13/2021 - 17:45
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Denys Serhiichuk
Which crypto can follow the rise of Cardano (ADA) soon?
BTC, ETH, XRP and ADA Price Analysis for May 13
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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After yesterday's fall, most of the top 10 coins are in the red. Cardano (ADA) is the only exception, rocketing by almost 13 percent.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the main loser on our list today, with its price declining by over 9 percent. 

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

Even though the chance of further drop remains high, there is a high possibility of seeing a test of the mirror level at $53,500. Such a move is accompanied by the increased buying trading volume. However, a possible bounce can also be considered as a correction after a sharp dump, but not a start of a new bullish rally.

Bitcoin is trading at $49,780 at press time.

ETH/USD

The price of Ethereum (ETH) has gone down by 9.54 percent over the last day.

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

From a technical point of view, Ethereum (ETH) is more bearish than Bitcoin (BTC) as bulls could not show a significant bounce after a false breakout. Thus, the selling trading volume remains high.

Related
BTC, ETH, XRP and DOGE Price Analysis for May 12

That is why the more likely scenario is a continued correction to the next support at around $3,500.

Ethereum is trading at $3,756 at press time.

XRP/USD

The price of XRP has not decreased as much as Bitcoin (BTC) or Ethereum (ETH). The price drop is 7 percent.

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

On the daily chart, XRP has bounced back to the MA 50, confirming the bulls' power. The buying trading volume is quite high which means that bulls are not going to seize the initiative in the near future. In this case, there is a chance to see XRP at the resistance of around $1.36 soon.

XRP is trading at $1.31 at press time.

ADA/USD

Cardano (ADA) is the only rising coin today. Its rate has increased by more than 10 percent.

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

Despite the sharp increase, the growth might continue after a possible retest of the recent peak at $1.83. If Cardano (ADA) successfully bounces back from that level, the mark of $2 may be attained shortly.

ADA is trading at $1.93 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.