Is the current bounceback a prerequisite for a market reversal?
A bounceback has occurrrd on the cryptocurrency market as all of the top 10 coins are again in the green zone.
BTC/USD
Bitcoin (BTC) has risen by 8% over the last 24 hours.
On the daliy chart, Bitcoin (BTC) has broken yesterday’s peak at $30,000 against the increased trading volume. If bulls can keep the rise and the daily candle fixes around the mentioned mark, there is a high possibility of seeing further growth on the weekend to the closest level at $32,950.
Bitcoin is trading at $30,780 at press time.
BNB/USD
Binance Coin (BNB) has gainedmore than Bitcoin (BTC), rising by 12% since yesterday.
Binance Coin (BNB) is going up after yesterday’s candle made a false breakout of the $238 level. The rate is trading above the vital mark of $300, which means that the rise may continue. If that happens, the further zone where bears can again seize the initiative is the resistance near the $340 mark.
BNB is trading at $309.8 at press time.
SOL/USD
Solana (SOL) is the biggest gainer from the list today; its rise has constituted 18.60% over the past day.
Despite the sharp growth, Solana (SOL) has not entered the mid-term bullish zone as the rate is still below the $60 mark. However, if the rise continues until the end of the day, there is a chance to see a breakout, followed by an upward move to $70.
SOL is trading at $54.77 at press time.
Source: https://u.today/btc-sol-and-bnb-price-analysis-for-may-13