BTC, ETH, XRP, ADA and BNB Price Analysis for May 14

The sharp bounceback has been changed by a further drop as all of the top 10 coins are in the red zone.

Top coins by CoinMarketCap

BTC / USD

Bitcoin (BTC) is going down, falling by almost 5% over the last 24 hours.

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

On the daily chart, Bitcoin (BTC) could not fix above $ 30,000 for a long time, which means it is too early to consider a trend reversal. In this case, if the selling volume increases and the price remains below the $ 29,000 mark, there is a high chance to see the test of the recently formed local low at $ 25,400.

Bitcoin is trading at $ 28,815 at press time.

ETH / USD

Ethereum (ETH) has lost even more than Bitcoin (BTC) with a decline of 5.73%.

ETH / USD chart by TradingView
ETH / USD chart by TradingView

Ethereum (ETH) is trading below the vital level of $ 2,160. If buyers cannot seize the initiative and return the rate to the zone of $ 2,000- $ 2,120, the ongoing drop may continue to the $ 1,900 mark. Thus, the low trading volume confirms buyers’ weakness.

Ethereum is trading at $ 1,975 at press time.

XRP / USD

XRP is not an exception to the rule, going down by almost 10%.

XRP / USD chart by TradingView
XRP / USD chart by TradingView

XRP made a false breakout of the $ 0.45 mark against the increased trading volume. At the moment, one needs to pay close attention to the recently formed level at $ 0.3644. If the price returns to it, the drop may continue below $ 0.35 next week.

XRP is trading at $ 0.4037 at press time.

ADA / USD

Cardano (ADA) is the biggest loser from the list today with a decline of 12.88%.

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

From the technical point of view, Cardano (ADA) is trading similarly to XRP, as the coin could not fix above the $ 0.60 mark. Currently, there are no prerequisites for a short-term rise, and the daliy closure below $ 0.50 can prompt a downward move.

ADA is trading at $ 0.4955 at press time.

BNB / USD

Binance Coin (BNB) has followed the drop of other coins, losing 10% of its price since yesterday.

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

Binance Coin (BNB) could not keep the rise after yesterday’s bullish candle, followed by the false breakout of the $ 300 mark. Currently, the nearest zone is around $ 240, which is important for bulls in terms of a possible rise. However, if the decline continues, there is a probability of seeing the test of $ 200 by the end of the month.

BNB is trading at $ 274.7 at press time.

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