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BTC, ETH and XRP Price Prediction for May 6
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Prices of most currencies are rising, however, there are some exceptions to the rule, according to CoinMarketCap.
Top currencies by CoinMarketCap
BTC/USD
The Bitcoin (BTC) rate fell by 0.34% in the last 24 hours.
Image by Trading View
Today’s drop did not greatly affect BTC’s overall technical position on the daily chart. This statement is also confirmed by the drop in volume. In this case, continued sideways trading in the narrow range of $63,000 to $65,000 is the most likely scenario for the coming days.
Bitcoin is trading at $63,857 at press time.
Ethereum/USD
Ethereum (ETH) followed BTC’s fall, falling 0.90%.
Image by Trading View
On the daily chart, Ethereum (ETH) price trades similarly to BTC. At the moment, one should focus on closing the bar in terms of the $3,100 zone. If it breaks out, the correction could lead to the test of $3,000.
Ethereum is trading at $3,115 at press time.
XRP/USD
Unlike other currencies, the XRP rate increased by 0.50%.
Image by Trading View
Despite today’s slight increase, the price of XRP has not accumulated enough energy to grow. The rate once again failed to settle above the intermediate zone of $0.54.
If buyers fail to take advantage of the initiative soon, there is a chance to see a further decline to $0.52.
XRP is trading at $0.5318 at press time.
About the author
Denis Serhiichuk
With over 5 years of trading, Denys has a deep knowledge of technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all relevant information and makes predictions about major currencies.
Thus, his experience is supported by working at top blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, he can be contacted at denys.serhiichuk@u.today.