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BTC, ETH, XRP, BNB and LINK Price Analysis for May 1

Price Predictions
Sat, 05/01/2021 - 15:52
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Denys Serhiichuk
Can Bitcoin (BTC) follow the sharp rise of altcoins and set a new peak soon?
BTC, ETH, XRP, BNB and LINK Price Analysis for May 1
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 the continued growth of the market; however, some coins are trading in the red zone. Cardano (ADA) and XRP are the only ones under the bears' influence.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key data for Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB) and Chainlink (LINK):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,083,078,090,991 $57,930.93 $50,175,207,509 5.78%

Ethereum

ETH

$332,453,292,531 $2,873.54 $29,471,685,121 4.75%

Binance Coin

BNB

$95,540,131,285 $622.68 $4,814,027,555 2.59%

XRP

XRP

$71,159,838,254 $1.57 $9,565,906,442 -2.28%

Chainlink

LINK

$16,414,074,166 $39.17 $1,373,449,865 1.97%

BTC/USD

Bitcoin (BTC) has started rising faster than some altcoins, with growth over the last day being 5.78%.

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

On the 12H chart, Bitcoin (BTC) has gotten out of the consolidation phase and is ready to keep the growth going. However, it is unlikely to set new peaks as bulls are not powerful enough. In this case, one may expect a retest of the mark around $61,500, followed by a slight correction.

Bitcoin is trading at $57,747 at press time.

ETH/USD

Ethereum (ETH) is less bullish than Bitcoin (BTC) as the price change of the main altcoin is +4.75%.

Ethereum (ETH) is on its way to the vital $3,000 mark. The buying trading volume is low, which means that bulls have not accumulated enough power to reach that mark. In this case, a sideways trend around $2,850 may last for some days before a breakout occurs.

Ethereum is trading at $2,877 at press time.

XRP/USD

XRP is the only loser from our list, falling by 2.28%.

Despite the fall, XRP is bullish in the short-term scenario. The selling trading volume is low, which means that bears are not willing to sell at the current levels.

Related
BTC, ETH, XRP and BNB Price Analysis for April 30

That is why the more likely price action is an ongoing rise to the resistance around $1.81.

XRP is trading at $1.55 at press time.

BNB/USD

Binance Coin (BNB) continues its rise day after day, and the growth since yesterday is 2.58%.

Binance Coin (BNB) is targeting the $800 mark on the daily chart. The volatility is decreasing, which means that the accumulation period is about to end soon. Such a statement is also confirmed by a low trading volume.

BNB is trading at $624 at press time.

LINK/USD

Chainlink (LINK) is not an exception to the rule as the price of the altcoin has increased by almost 2%.

The rise of Chainlink (LINK) has not reached its peak yet. Bears may seize the initiative around the closest resistance at $40.30. However, in the long-term scenario, buyers have the chance to attack the peak at $44.30.

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