While the market‘s attention is on Bitcoin and Ethereum, other top 10 altcoins remain a topic of interest. Significant movements continue for BNB, SOL, and XRP, which rank 3rd, 4th, and 5th respectively (excluding stablecoins).
BNB Price Analysis
BNB’s price has been holding onto moving averages for the past few days. This situation highlights the growing indecision between bulls and bears.
The flat moving averages and RSI just below the neutral level do not clearly support either bulls or bears. If the price falls below the triangle’s support line, it may indicate the bears are gaining the upper hand. In this case, the BNB/USDT pair could see the price drop to $536.
Conversely, if the price rises from the support line and breaks above the resistance level, the bulls might gain an advantageous position. The pair could then retest the general resistance level of $635. As of the time of writing, BNB is trading at $592.
Solana Price Update
Solana continues its gradual upward trend. Bears attempted to pull it below the $162 breakout level on May 19. However, the bulls maintained their strong stance. Currently, the price is trying to stay above $186. If the bulls can maintain this level, SOL price could move up to $205.
On the other hand, if the price moves down from the current level of $185 and falls below the moving averages again, it may indicate that the bears still hold power. The next price target for the pair would be $140.
XRP Price Comments
XRP moved above the 20-day EMA of $0.52 on May 17, but the bulls could not sustain higher price movements. This indicated that bears were selling during the relief period.
The price appears to have moved above the support line and the 50-day SMA of $0.53. This can be considered a price rise. However, a break and close below this support line could trigger a price movement below XRP’s critical support of $0.46.
As of the time of writing, XRP continues to trade at $0.5366 following a 5.4% rise. The trading volume has increased by 145%, reaching $1.377 billion.
