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


Bulls are keeping the growth going as the prices of all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has risen by 8.75% over the last 24 hours.

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

On the daily chart, Bitcoin (BTC) broke the resistance level at $39,573 and fixed above it. Currently, one needs to pay close attention to the area around $42,000. If bulls can get to this zone, there are chances to see a continued rise to $45,000 next week.

If buyers fail to do that, one may expect a decline to the formed mirror level at $39,300.

Bitcoin is trading at $41,446 at press time.

ETH/USD

Ethereum (ETH) has gained less than Bitcoin (BTC) with a rise of 6.38%.

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

Ethereum (ETH) is trading around the resistance at $3,034. If bulls can break this level, the growth may continue to the area of $3,500. In case of a false breakout, the decline may lead the rate of the chief altcoin to $2,815.

Ethereum is trading at $3,018 at press time.

XRP/USD

XRP is trying to show similar performance as BTC, going up by almost 9%.

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

Despite the growth, XRP has not left the channel, located between the support at $0.5461 and the resistance at $0.6959. At the moment, the rate is coming close the $0.68 mark against increased trading volume. In case of a breakout, there are chances to see the test of the liquidity zone around $0.80 next week.

Related:  ADA Bulls May Play Out Above $0.60

XRP is trading at $0.6710 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule, rising by almost 10%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) is trading similarly to XRP as it is also located near its resistance level at $1.188. However, the buying volume is going down, which means that bulls may have faced some obstacles on the way. In this case, the more likely scenario is ongoing sideways trading around $1.11.

ADA is trading at $1.154 at press time.

BNB/USD

Binance Coin (BNB) is the biggest gainer from the list today as its rate has rocketed by 12% since yesterday.

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

BNB broke the resistance at $405, having confirmed the bulls’ power. If the trading volume increases, the rise may continue to the vital mark around $500. Such a scenario is relevant until the end of the upcoming week.

BNB is trading at $421.6 at press time.


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