Good morning! BTC is currently trading above $ 54325, ETH around $ 2774. Bitcoin's dominance has dropped to 48%.
Bitcoin has less time to set a personal best and finish in plus for the seventh month in a row. Today we have to close futures and options contracts, which can provoke high volatility. If the market goes up, BTC will face strong resistance at $ 56,000 😕
BTC / USDT daily chart
Ethereum, yesterday almost reached $ 2,800, today the market is going to re-assault.
The Ethereum price has reached a tight upper boundary of the ascending channel, which coincides with the level of $ 2,770. The question now is whether the buyer will be able to break through the upper channel border and raise the price to $ 2,800 and keep the price above this level.
After all, many technical indicators point to the exhaustion of buyers, which often leads to a price correction. It is from the level of $ 2800 that I expect a sharp decline in the price to $ 2550, where the nearest support is.
But also the sustained pressure of buyers, which can raise the price of Ethereum above $ 2,810 and gain a foothold above this level, will refute the bearish forecast (correction), and in this case, the price will go straight to $ 3,000 thousand.
ETH / USDT daily chart
ETH's success haunts XRP and BNB. Ripple fans can rejoice at the $ 1.51 price tag, which is far from this year's high, but XRP is known for its impulse moves.
XRP / USDT 4-Hour Chart
The picture is even better on BNB, the coin is now trading at the level of the historical high and can update it at any time 🤑
BNB / USD 4-hour chart
In the 4 hours chart, the BNB price is close to the top of the ascending triangle, which is a hell of a bullish signal that no trader should ignore. A bullish pattern has been forming since the BNB price set a new all-time high of $ 638.
A breakout of the upper border of the triangle and price fixation above it, this action will give an impetus to the bulls to raise the price to the $ 800 mark.
However, if suddenly the bulls fail to hold the $ 600 level, the bears will quickly lower the price to the $ 540 level, which corresponds to the border of the lower triangle.
Also, the news that Binance will launch the NFT trading platform in June will further the growth of BNB coina.
🔹 Top 3 in 24 hours:
Venus - $ 115.63 (↑ 36.60%)
Huobi Token - $ 23.19 (↑ 25.08%)
OKB - $ 21.10 (↑ 20.47%)
📝 Earn money, but don't forget about risk management and money management.
Disclaimer: This article is informative and does not provide information on where to invest. If you are planning to invest, do your own research.