BTC, ADA and BNB Price Analysis for May 6
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Bulls could not resist the bears’ pressure, and most of the coins keep going down today.
BTC/USD
Bitcoin (BTC) is the biggest loser today, falling by almost 6% over the last 24 hours.
Bitcoin (BTC) has broken the $37,700 level on the daily chart. Until the price is below this mark, bears keep controlling the situation on the market.
In this case, the more likely scenario is a further drop to the support level at $32,871. Thus, the increased selling volume confirms the continued downward move.
Bitcoin is trading at $36,238 at press time.
ADA/USD
Cardano (ADA) could not withstand the fall of Bitcoin (BTC), declining by 5%.
On the daily chart, Cardano (ADA) is trading close to the support level at $0.6856. The possible fall is also accompanied by the rising selling volume. However, if buyers can come back above the $0.80 mark, the rise may continue to the zone of $0.85.
ADA is trading at $0.7931 at press time.
BNB/USD
Binance Coin (BNB) has fallen the least from the list today, going down by 3.70%.
Binance Coin (BNB) remains trading in a wide channel between the support at $336 and the resistance at $455. At the moment, neither bulls nor bears control the situation on the market; however, if buyers can return the rate to the vital $400 mark, buyers have a chance to seize the initiative.
BNB is trading at $381.90 at press time.
