BTC, ETH, XRP, DOGE and ADA Price Analysis for May 1

The new week has started with ongoing bearish pressure as most of the coins keep trading in the red zone.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has fallen by 2.32% over the last 24 hours.

Image by TradingView

On the daily chart, the price of Bitcoin (BTC) has continued the fall after yesterday’s bearish closure. If bulls cannot restore the rate above the $29,000 mark shortly, the decline may lead to the test of the support zone around $27,000. Such a scenario is relevant until the end of the week.

Bitcoin is trading at $28,548 at press time.

ETH/USD

Ethereum (ETH) has lost more than Bitcoin (BTC), as its rate has declined by 3.16%.

Image by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as its rate is also on the way to the nearest support at $1,802. The false breakout happened from that mark before; however, buyers have failed to come back to recover the midterm rise. In this case, closure near the $1,800 zone can be a prerequisite for a more profound drop to $1,760.

Ethereum is trading at $1,844 at press time.

XRP/USD

XRP is no exception to the rule, going down by 2.28%.

Image by TradingView

Despite the fall, the rate of XRP is trading sideways as neither bulls nor bears have seized the initiative. In addition, the falling volume confirms this. Respectively, ongoing consolidation in the narrow range of $0.45-$0.48 is the more likely scenario for the next few days.

XRP is trading at $0.4650 at press time.

DOGE/USD

The rate of DOGE has fallen by 2.64% over the last 24 hours.

Image by TradingView

From the technical point of view, the price of DOGE is more bearish than bullish as bulls could not get back above the $0.08 zone. Until the rate is below that mark, there is a high possibility of seeing a test of the support level at $0.07620.

DOGE is trading at $0.0788 at press time.

ADA/USD

The price of Cardano (ADA) has dropped by 2.58%.

Image by TradingView

On the daily chart, the rate of Cardano (ADA) is falling after the failure to fix above the $0.40-$0.41 area. At the moment, there are no reversal signals, which means that traders can expect a test of the support level of $0.3708 shortly.

ADA is trading at $0.3892 at press time.