BNB and SOL Price Analysis for March 5

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The last day of the week is neither bullish nor bearish as the rates of some coins are rising while others keep falling.

BNB/USD

Binance Coin (BNB) has gained the most value from the list today, going up by 0.30%.

Despite the slight rise, Binance Coin (BNB) remains more bearish than bullish as the price stays near the support at $281.1. Thus, the selling volume is low, confirming the absence of buyers. If bulls want to seize the initiative, they need to restore the rate above the vital $300 zone.

BNB is trading at $290.5 at press time.

SOL/USD

The rate of Solana (SOL) has increased by 0.14%.

From the technical point of view, Solana (SOL) is trading similarly to Binance Coin (BNB) as its price is also located near the support. If bears’ pressure continues and the candle closes near the $20 mark, one can expect a breakout followed by an impulse to the $19 zone and below. Such a scenario is relevant until the end of the upcoming week.

SOL is trading at $21.26 at press time.