BTC, ETH, XRP, BNB and ADA Price Analysis for May 31

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Most of the coins are back in the red zone, accord­ing to the Coin­Mar­ket­Cap rank­ing.

Top coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

The rate of Bit­coin (BTC) has fall­en by 2.13% over the last 24 hours.

BTC/USD chart by TradingView

Image by Trad­ingView

On the dai­ly chart, the rate of Bit­coin (BTC) has con­tin­ued to fall after a failed attempt to fix above the $28,000 zone. At the moment, buy­ers are fight­ing to keep the price above $27,000. If they fail to do that, the drop may con­tin­ue to the sup­port at $25,800.

Bit­coin is trad­ing at $26,955 at press time.

ETH/USD

Ethereum (ETH) is less of a los­er than Bit­coin (BTC), going down by 1.88%.

ETH/USD chart by TradingView

Image by Trad­ingView

Despite today’s decline, the rate of Ethereum (ETH) is far from the key lev­els, which means that side­ways trad­ing is the more like­ly sce­nario for the next days. How­ev­er, if the bar clo­sure hap­pens below the $1,800 mark, noth­ing can stop bears on the way to the $1,700 area.

Ethereum is trad­ing at $1,859 at press time.

XRP/USD

XRP is today’s excep­tion to the rule, ris­ing by almost 3%.

XRP/USD chart by TradingView

Image by Trad­ingView

The rate of XRP is nei­ther bull­ish nor bear­ish today as the alt­coin has not accu­mu­lat­ed enough pow­er for a fur­ther sharp move. Cur­rent­ly, one should pay atten­tion to the $0.4854 lev­el. Until the rate is above that mark, buy­ers are sup­posed to be more pow­er­ful than sellers.

XRP is trad­ing at $0.5090 at press time.

BNB/USD

The rate of Binance Coin (BNB) has dropped by 1.83% since yesterday.

BNB/USD chart byTradingView

Image by Trad­ingView

The price of BNB is falling after a false break­out of the resis­tance lev­el at $316.7. If today’s can­dle clos­es with no long wicks and near the vital mark of $300, the decline is like­ly to con­tin­ue to the $290 zone shortly.

BNB is trad­ing at $305.7 at press time.

ADA/USD

Car­dano (ADA) has fol­lowed the drop of BNB, declin­ing by 0.79%.

ADA/USD chart by TradingView

Image by Trad­ingView

Bears have seized the ini­tia­tive on the dai­ly time frame after buy­ers failed to fix above the $0.38 zone. If the sit­u­a­tion does not change, traders can see the price of ADA in the range of $0.36-$0.3650 soon.

ADA is trad­ing at $0.3728 at press time.

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