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BTC, ETH, XRP, and BNB Price Analysis for May 11

1 Mins read

The cryptocurrency market is still facing a correction, with most of the top 10 coins being in the red.


Top coins by CoinMarketCap


Bitcoin (BTC) remains in the red zone, falling by 2.61 percent over the last day.

BTC/USD chart by TradingView

Despite the drop, the long-term bullish formation has not been broken yet as the main crypto keeps trading above the $55,000 level. In addition, the selling volume remains low, which signals the lack of bears’ power. That is why there is a chance to get to the resistance at $60,400 by the end of the week.

Bitcoin is trading at $56,110 at press time.


Ethereum (ETH) is less bearish than Bitcoin (BTC), with the chief altcoin going down by 3 percent over the last day.

ETH/USD chart by TradingView

The expected drop means that bulls might have gained enough power for a future uptick.

Such a statement is supported by the increased buying trading volume. Summing up, the potential target of $4,400 can be attained within the nearest days.

Ethereum is trading at $4,057 at press time.


XRP is the main loser today, with its price declining by 4 percent.

XRP/USD chart by TradingView

XRP is trading similarly to Ethereum (ETH), with a bullish move remaining more likely to happen than a further drop. The coin has successfully bounced off the support at $1.35, having confirmed the bulls’ power. In this case, the chances to come back to $1.62 remains relevant.

XRP is trading at $1.47 at press time.


Binance Coin (BNB) is the main gainer today as the rate of the native exchange coin has almost unchanged since yesterday.

BNB/USD chart by TradingView

The drop has not affected the plans to conquer the vital $800 mark. The volatility has reduced, which means that buyers are ready to break the level of $704 toward new peaks. Such a possible move is accompanied by low trading volume as well as low liquidity.

Binance Coin is trading at $662 at press time.

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