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BTC, ETH, XRP and BNB Price Analysis for May 28

Price Predictions
Fri, 05/28/2021 - 16:21
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Denys Serhiichuk
Can Bitcoin (BTC) and other coins show one more bounceoff before a further drop?
BTC, ETH, XRP and BNB Price Analysis for May 28
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 cryptocurrency market keeps facing a correction as all of the top 10 coins are in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BNB) has lost the least as the chief crypto has fallen by 7%.

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

Despite recent short-term growth, Bitcoin (BTC) has confirmed the ongoing decline. From the technical point of view, the leading crypto is about to fall below the vital support of $36,000. The buying trading volume is low, which means that there is a good chance to see one more touch of the $32,000 mark.

Bitcoin is trading at $36,821 at press time.

ETH/USD

Ethereum (ETH) is more bearish than Bitcoin (BTC) with a price change of -8.44%.

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

The decline of Ethereum (ETH) may not have finished yet as the main altcoin cannot fix above the vital level of $2,800. That is why there is a possibility of one more wave of price reduction to the zone of $1,800 where most of the liquidity is focused.

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BTC, BNB, DOGE, DOT, UNI and BCH Price Analysis for May 27

The further decline is also supported by a rising selling volume.

Ethereum is trading at $2,536 at press time.

XRP/USD

The price of XRP has decreased by 10% over the past 24 hours.

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

Unlike Bitcoin (BTC) and Ethereum (ETH), XRP is looking more bullish on the daily chart. The weakness of bears is supported by declining selling trading volumes. Even though the fall may not have ended yet, the short-term rise may happen soon. In this regard, the recently formed mirror level at $1.20 may be attained shortly.

XRP is trading at $0.9088 at press time.

BNB/USD

Binance Coin (BNB) is the biggest loser today as the rate of the native exchange coin has fallen by 11%.

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

Binance Coin (BNB) is located in the sideways range. However, the fall may still continue. The current daily candle is accompanied by a high selling trading volume, which means that BNB can retest the support at $279 soon.

BNB is trading at $337 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.