BTC, ETH, XRP, ADA and BNB Price Analysis for Feb 26
After a sharp rally, bulls continue to dominate the market, even as some currencies have returned to the red zone.
The price of Bitcoin (BTC) has fallen by almost 1% since yesterday.
After growing to $40,000, Bitcoin (BTC) made a false break from the resistance at $39,573, meaning bulls are not ready to sustain growth.
If seller pressure continues today, there is a chance to see a correction near the $38,000 area by the end of the week.
Bitcoin is trading at $39,183 at the time of writing.
Unlike Bitcoin (BTC), the price of Ethereum (ETH) has risen by 2.14% in the past 24 hours.
Despite the growth, Ethereum (ETH) is trading similarly to BTC as the major altcoin also made a false breach of the resistance at $2,815.
If buyers can’t get over it soon, bears could take the initiative and bring the rate down to $2,600 soon.
Ethereum is trading at $2,768 at the time of printing.
XRP is the biggest winner today as the rate is up more than 5%.
XRP shows better price performance than other coins; however, it failed to reach the vital mark of $0.80. In this case, the most likely scenario is the mirror level test at $0.7462, followed by a bounceback.
XRP is trading at $0.7594 at the time of writing.
Cardano (ADA) is also rising, up 2% since yesterday.
Cardano (ADA) is following the scenario of other currencies, after a false break through the resistance at $0.917. Until the daily candle is below, bears remain more powerful than bulls. Respectively, the drop could push the price of ADA to $0.85.
ADA is trading at $0.897 at the time of writing.
Binance Coin (BNB) is no exception to the rule, rising 1.21%.
Binance Coin (BNB) could also face a short correction towards the $360 if buyers fail to break above the resistance at $385. Such a scenario is relevant until the end of the week.
BNB is trading at $374.3 at the time of writing.