Market Analysis by Investing.com (Günay Caymaz) covering: BTC/USD, ETH/USD, BNB, PEPE/USD. Read Investing.com (Günay Caymaz)'s Market Analysis on Investing.com
BNB held stronger than others, currently consolidating between $550 and $650.Cryptocurrency markets experienced a significant downturn in April, with average losses exceeding 20% across the board, erasing the gains achieved in March. This selling pressure has extended into May, with
If the $2,900 support holds throughout the week, ETH could potentially revisit the $3,150 resistance. This level coincides with the intersection of fast and slow EMA values, suggesting a potential area of strong resistance technically. Additionally, the falling trend line aligns with this zone, emphasizing the need for a bullish breakout to reverse the current trend.
Examining the long-term BNB chart, we observe that the cryptocurrency has swiftly surpassed resistance zones since bottoming out in October 2023. Currently, BNB is consolidating between $550 and the 2021 peak of $650. Interestingly, BNB entered a similar consolidation phase in January, followed by a sharp upward move once the breakout was confirmed. Given the current consolidation pattern, it's likely that BNB's next move will be heavily influenced by its exit point from the short-term channel.entered a correction phase starting from the second half of March. The cryptocurrency found support at an average price of $0.
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