BTC, ADA and BNB Price Analysis for May 31

Bulls have continued the growth as most of the coins keep trading in the green zone. DOGE is the only exception to the rule, falling by 0.26%.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is rising by almost 4% over the last day after it has successfully fixed above the $30,000 mark.

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

Bitcoin (BTC) is consolidating in the range of $31,500-$32,000 after yesterday’s bullish candle. If the buying volume remains high and bulls can hold the initiative until the end of the day, the new month might start with the test of the resistance at $32,650.

Bitcoin is trading at $31,637 at press time.

BNB/USD

Binance Coin (BNB) has grown the least from the list, rising by 1.20%.


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

Even though Binance Coin (BNB) is looking weaker than the other coins, the native exchange coin could come back above the important $300 zone. In addition, the price is located near the resistance level, which means that buyers are more powerful than bears at the moment. Thus, there is a high chance to see further growth to $320 in the next few days.

BNB is trading at $318.70 at press time.

ADA/USD

Cardano (ADA) is the biggest gainer today, rocketing by 15% since yesterday.

ADA/USD chart by Trading View
ADA/USD chart by Trading View

Despite the sharp growth, the rate of Cardano (ADA) has bounced off the resistance at $0.6856, which means that bulls are not powerful enough for mid-term growth. However, if the rate remains trading above $0.60 and the price starts consolidating near this mark, traders can expect a breakout, followed by an upward move to the $0.70 mark.

ADA is trading at $0.615 at press time.


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