Altcoins could not sustain the rising trend as Bitcoin (BTC) dumped below $9,000 yesterday. As a result, all of the top 10 coins have come back to the red zone while the biggest loser is the chief crypto, having declined by 5.16% over the past day.
The key data for Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Bitcoin SV (BSV), and Binance Coin (BNB) are below.
|
Name |
Ticker |
Market Cap |
Price |
Volume (24h) |
Change (24h) |
|
Bitcoin |
BTC |
$161 010 906 681 |
$8 757.58 |
$34 930 283 396 |
-4.52% |
|
Ethereum |
ETH |
$22 515 858 720 |
$202.71 |
$12 203 561 368 |
-2.23% |
|
XRP |
XRP |
$8 493 932 472 |
$0.192550 |
$1 617 568 614 |
-3.06% |
|
Bitcoin Cash |
BCH |
$4 197 231 417 |
$227.90 |
$2 748 931 302 |
-2.04% |
|
Bitcoin SV |
BSV |
$3 398 962 895 |
$184.57 |
$1 288 015 711 |
-3.54% |
|
Binance Coin |
BNB | $2 505 517 048 | $16.11 | $276 822 720 | -2.56% |
BTC/USD
Over the weekend, Bitcoin (BTC) again fell below $9,000. Last night, support was not upheld at $8,800, after which Bitcoin (BTC) set new local lows around $8,620. This was followed by an active reaction from buyers, who bought the strait. The price of the first cryptocurrency has been trying to return to above $8,800 for several hours.
Bitcoin (BTC) could not pass the resistance at $9,300, after which there was a breakdown of $8,800. In case of a breakdown of $8,800, the nearest target was located at $8,535. As a result, the BTC price did not reach this mark and set the next local minimum at $8,642. If in the near future, buyers do not push the price back above $8,800, BTC may continue to decline to $8,535.
Bitcoin is trading at $8,772 at press time.
ETH/USD
Last weekend, the price of Ethereum (ETH) was unable to continue recovering in the area of weekly highs and rolled back below $208.18.
Last night, buyers made a desperate attempt to break through the resistance of the Point Of Control indicator line ($208.18), but this dropped the Ether price to below the psychological mark of $200. After it bottomed out in the $197 area, the price rebounded to $202. If there is no strong pressure from the bears today, then for some time the pair will be able to consolidate in the $200 support area, but soon sellers will be able to increase volumes which could cause the price to drop below $192.57.
Ethereum is trading at $202.92 at press time.
XRP/USD
On Saturday, the XRP price managed to pierce the upper boundary of the downward channel, but it did not break out from the local down-trend corridor. On Sunday, the price tried to stay above the psychological mark of $0.20, but in the afternoon, at small volumes, sellers brought the pair back into the downward channel.
Last night, the price dumped to $0.175 on Bitstamp. On Binance and Bitfinex, the decline was limited to $0.189. In the morning, the pair rebounded to $0.194 and is now trying to recover in the region of average prices. Summing up, the decline may resume soon and a rollback to the lower border of the corridor will continue.
XRP is trading at $0.1936 at press time.
BCH/USD
Bitcoin Cash (BCH) is today's 'gainer' as the coin has lost the least compared to other coins from our list. The decline has amounted to only 1.73% since yesterday.
On the daily chart, Bitcoin (BCH) has already entered a correction phase after a failed attempt at retesting the $250 level. The trading volume is dropping slightly. However, the coin might trade sideways for some time as it is located in a high liquidity zone. The lines of the MACD indicator have crossed each other having confirmed the ongoing decline. All in all, traders can expect Bitcoin Cash (BCH) to reach $200 by the beginning of June 2020.
Bitcoin Cash is trading at $229.01 at press time.
BSV/USD
Bitcoin Cash (BCH) has declined much more as it has lost 3.89% of its value over the past 24 hours.
Bitcoin SV (BSV) has similar trading patterns as Bitcoin Cash (BCH). The lines of the Bollinger Bands indicator are declining, which means that the growth correction has started. One needs to pay close attention to the support level at $170. If bulls cannot hold that, then the bearish trend will return. At the moment, the second scenario is more likely as buyers now have no strength to buy back, based on the trading volume.
Bitcoin SV (BSV) is trading at $183.96 at press time.
BNB/USD
Binance Coin (BNB) is showing the second weakest decline of all of the coins from our list. The decrease has amounted to 2% over the past 24 hours while over the past week it has amounted to 1.87%.
Binance Coin (BNB) is an exception to the other coins as it still has growth potential. On the daily time frame, the coin has formed a bullish divergence. Moreover, the trading volume remains relatively high. Thus, the biggest liquidity zone is at current levels. If such a situation continues, Binance Coin (BNB) might reach the resistance at $18 by the first days of June.
Binance Coin is trading at $16.18 at press time.
