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BTC, XRP, ADA and BNB Price Analysis for May 19

Price Analysis
Thu, 05/19/2022 - 14:59
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Denys Serhiichuk
Can the majority of coins bounce back by the end of the month?
BTC, XRP, ADA and BNB Price Analysis for May 19
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 market is neither bearish nor bullish today as some coins keep going down while others are forming reversal patterns.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is slightly rising, going up by less than 1% over the last 24 hours.

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

Even though yesterday's candle closes below the $29,000 mark, bulls are trying to return the rate to the previous levels. If they manage to do that and return the price to the zone of $29,500-$30,000, the correction may continue to the area of $31,000 until the end of the week.

Bitcoin is trading at $29.615 at press time.

XRP/USD

XRP could not follow the rise of Bitcoin (BTC), going down by 1.17% over the last day.

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

XRP has bounced off the $0.40 mark, which means that buyers are ready to fight for this level. If the trading volume increases and the correction continues close to the $0.45 mark, there are chances to see the trend change within the next few days.

XRP is trading at $0.4125 at press time.

BNB/USD

Binance Coin (BNB) is the biggest gainer from the list today as the native exchange coin has risen by 2.13%.

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

Binance Coin (BNB) is again trading above the psychological $300 level against the declining trading volume. Currently, one needs to pay close attention to the daily closure. If buyers can keep the price near $300, the test of the resistance at $336 might happen shortly.

BNB is trading at $299.8 at press time.

ADA/USD

Unlike Binance Coin (BNB), the rate of Cardano (ADA) is declining by 1.66%.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Cardano (ADA) is trying to hold the $0.50 mark, which is vital for bulls. However, if sellers' pressure continues and the decrease continues, the area around $0.45 can by attained by bears soon.

ADA is trading at $0.5182 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.