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BTC, ETH and BNB Price Analysis for May 8

source-logo  u.today 08 May 2021 15:33, UTC

The weekend has begun with a neutral mood on the cryptocurrency market as some coins keep trading in the green zone, while others have already entered the correction phase.

Top coins by CoinMarketCap


Bitcoin (BTC) keeps trading in the green zone. Its rate has gone up by 3.82% over the last day.

BTC/USD chart by TradingView

Despite today's growth, Bitcoin (BTC) still looks bullish. However, it is too early to consider the setting of new peaks. The trading volume is low, which means that buyers might accumulate power for a future rise.

In this regard, the main crypto might rise to the area of $60,400 where an unclosed gap is located.

Bitcoin is trading at $58,600 at press time.


Ethereum (ETH) has shown less growth than Bitcoin (BTC) as the rate of the chief atlcoin has risen by 2% over the past 24 hours.

ETH/USD chart by TradingView

Even though Ethereum (ETH) has risen less than Bitcoin (BTC), it is looking more bullish in the mid-term scenario. After a false breakout of the $3,600 level, there was no deep decline, which means that buyers are ready to continue the rise. In addition, the selling trading volume is low. All in all, the leading altcoin may achieve the next peak at around $3,800 soon.

Ethereum is trading at $3,550 at press time.


Binance Coin (BNB) has gained the least from the list as the rate of the native exchange coin has risen by 0.98%.

BNB/USD chart by TradingView

Binance Coin (BNB) is currently located in the sideways trend, gathering energy for a possible further rise. Such a statement is confirmed by low volatility and small trading volume. As the coin is still located in the bullish trend, the breakout of the resistance at $704 might lead to growth at the vital level of $800.

Binance Coin is trading at $632 at press time.