BTC, ETH, XRP, ADA and BNB Price Analysis for June 5

The new week has started with the bears dominating as the rates of most of the coins are falling.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has dropped by 2.24% over the last 24 hours.

Image by TradingView

On the daily chart, the price of Bitcoin (BTC) has lost the vital mark of $27,000, which is a bearish signal. Now, traders should focus on the nearest interim level at $26,500. If the closure happens near it, one can expect an ongoing drop to the support at $25,800.

Bitcoin is trading at $26,673 at press time.

ETH/USD

Ethereum (ETH) has followed the decline of Bitcoin (BTC), going down by 2.60%.

Image by TradingView

Despite today’s fall, Ethereum (ETH) is not looking as bearish as BTC, as the rate is far from the key levels. However, if buyers cannot seize the initiative shortly, a decrease below $1,800 may be a prerequisite for a more profound drop to the support at $1,737.

Ethereum is trading at $1,857 at press time.

XRP/USD

XRP is the only growing coin from the top 10 list today, rising by 0.35%.

Image by TradingView

Despite today’s slight rise, XRP could not continue yesterday’s bullish candle. If the bar closes below the low at $0.51, bears can get back in the game and get back to the support at $0.4854 shortly.

XRP is trading at $0.5250 at press time.

ADA/USD

The price of Cardano (ADA) has fallen by 2.57% since yesterday.

Image by TradingView

The price of ADA has continued the fall after a failed attempt to fix above the $0.38 zone. If today’s candle closes with no long wick, the fall is likely to continue to $0.36.

ADA is trading at $0.3673 at press time.

BNB/USD

Binance Coin (BNB) is the biggest loser today, going down by more than 5%.

Image by TradingView

On the daily time frame, the price of Binance Coin (BNB) has almost tested the support level at $282.8. At the moment, traders should focus on the bar closure. It it happens around that mark, the decline may continue to the $270 area this week.

BNB is trading at $285.5 at press time.

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