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BTC, XRP and BNB Price Analysis for February 19

Price Predictions
Fri, 02/19/2021 - 16:20
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Denys Serhiichuk
Can XRP follow the rise of Bitcoin (BTC) and Binance Coin (BNB)?
BTC, XRP and BNB Price Analysis for February 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 cryptocurrency market keeps setting new peaks; however, there are some exceptions to the rule. Mainly, Cardano (ADA) is the only coin from the top 10 list that is in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The main data on Bitcoin (BTC), XRP and Binance Coin (BNB):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$988,906,749,780 $53,688.54 $54,870,674,028 2.88%

XRP

XRP

$25,072,542,553 $0.5566 $6,420,740,613 3.26%

Binance Coin

BNB

$49,392,420,839 $312.99 $15,544,710,511 61%

BTC/USD

Yesterday morning, bulls were unable to continue the race to a new high. Sellers on small volumes pushed through the support of $52,000 and set the new peak at the level of $53,000.

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

If today the pair manages to stay in the ascending channel above the trend line, then before the end of the week, one can expect a continuation of the bull run to the area of $​​54,000.

Related
BTC, ETH, ADA, BNB, XLM and DOGE Price Analysis for February 18

If the bears push the trend line around the psychological mark of $50,000, then the price might turn to a decline and the market would expect a significant correction. The first support level for such a pullback may be the line at around $48,000.

Bitcoin is trading at $53,700 at press time.

XRP/USD

Yesterday morning, after another unsuccessful attempt by buyers to break through the resistance of the uptrend line, the pair rolled back to the average price area and, by this morning, consolidated in a narrow sideways corridor with support at the four-hour EMA55 level.

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

Bears are trying to break this moving average, but sales volumes are still too small. If, during the day, the selling pressure increases, then the bears will roll back the XRP price below the psychological level of $0.50. If the trades are held at the same small volumes, then the movement in a narrow sideways range will continue.

XRP is trading at $0.55 at press time.

BNB/USD

Binance Coin (BNB) is the top gainer today. The rate of the native exchange token has rocketed by 61% over the last 24 hours.

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

On the 4H chart, Binance Coin (BNB) might face a short-term decline as it is overbought based on the RSI indicator. In this case, one can expect a drop to the mirror level at $328, where bulls might seize the initiative again.

Binance Coin is trading at $315 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.