Can Bitcoin (BTC) observe the Binance coin (BNB) and hit a brand new excessive quickly?
The cryptocurrency market has gone green and all of the top 10 coins are bullish again.
Top 10 Coins from CoinMarketCap
BTC / USD
Buyers tried to regain the price yesterday morning but failed to beat the two hour EMA55. Sellers increased their volume from the level of average prices and by the end of the day the pair’s decline reached $ 55,440.
The price rebounded from that April low overnight, rebounding to $ 56,000. Recovery occurs slowly and with decreasing volume.
TradingView’s BTC / USD chart
Buyers could attempt to bring the pair back up to the EMA55 moving average this morning. In the afternoon, the decline can resume and if the bears intensify the rush, the price will break the $ 55,000 support and renew the $ 54,000 monthly minimum.
Bitcoin is trading at $ 57,839 at press time.
XRP / USD
Yesterday the pair failed to gain a foothold above the $ 1 per coin psychological level. The bears pushed the price back below the $ 0.900 support, setting the daily low at $ 0.855.
TradingView’s XRP / USD chart
After the rebound, the pair tried to consolidate slightly above the $ 0.90 support, but today the bears could push through that weak support and continue the retreat to the $ 0.80 level. We believe the decline in average prices may slow and the pair’s volatility may decrease.
XRP is trading at $ 0.9621 at press time.
BNB / USD
Binance Coin (BNB) is the top gainer today. The native exchange token rate has increased by 6%.
TradingView’s BNB / USD chart
In the daily timeframe, Binance Coin (BNB) has updated the peak and continues to rise. Applying the Fibonacci retracement to the chart, it can move up to the 61.8% or $ 430 level.
Binance Coin is trading at $ 416 at press time.