BTC, ADA and BNB Price Analysis for May 6

Bulls could not resist the bears’ pressure, and most of the coins keep going down today.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the biggest loser today, falling by almost 6% over the last 24 hours.

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

Bitcoin (BTC) has broken the $37,700 level on the daily chart. Until the price is below this mark, bears keep controlling the situation on the market.

In this case, the more likely scenario is a further drop to the support level at $32,871. Thus, the increased selling volume confirms the continued downward move.

Bitcoin is trading at $36,238 at press time.


ADA/USD

Cardano (ADA) could not withstand the fall of Bitcoin (BTC), declining by 5%.

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

On the daily chart, Cardano (ADA) is trading close to the support level at $0.6856. The possible fall is also accompanied by the rising selling volume. However, if buyers can come back above the $0.80 mark, the rise may continue to the zone of $0.85.

ADA is trading at $0.7931 at press time.

BNB/USD

Binance Coin (BNB) has fallen the least from the list today, going down by 3.70%.

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

Binance Coin (BNB) remains trading in a wide channel between the support at $336 and the resistance at $455. At the moment, neither bulls nor bears control the situation on the market; however, if buyers can return the rate to the vital $400 mark, buyers have a chance to seize the initiative.

BNB is trading at $381.90 at press time.