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BTC, SOL and BNB Price Analysis for May 13

Price Analysis
Fri, 05/13/2022 - 14:37
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Denys Serhiichuk
Is the current bounceback a prerequisite for a market reversal?
BTC, SOL and BNB 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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A bounceback has occurrrd on the cryptocurrency market as all of the top 10 coins are again in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 8% over the last 24 hours.

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

On the daliy chart, Bitcoin (BTC) has broken yesterday's peak at $30,000 against the increased trading volume. If bulls can keep the rise and the daily candle fixes around the mentioned mark, there is a high possibility of seeing further growth on the weekend to the closest level at $32,950.

Bitcoin is trading at $30,780 at press time.

BNB/USD

Binance Coin (BNB) has gainedmore than Bitcoin (BTC), rising by 12% since yesterday.

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

Binance Coin (BNB) is going up after yesterday's candle made a false breakout of the $238 level. The rate is trading above the vital mark of $300, which means that the rise may continue. If that happens, the further zone where bears can again seize the initiative is the resistance near the $340 mark.

BNB is trading at $309.8 at press time.

SOL/USD

Solana (SOL) is the biggest gainer from the list today; its rise has constituted 18.60% over the past day.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

Despite the sharp growth, Solana (SOL) has not entered the mid-term bullish zone as the rate is still below the $60 mark. However, if the rise continues until the end of the day, there is a chance to see a breakout, followed by an upward move to $70.

SOL is trading at $54.77 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.