Ethereum (ETH)
Ethereum has shown some signs of recovery with a modest 2% increase over the week. However, the price action remains inconclusive about a potential rally. For Ethereum to regain significant buyer interest, it must break through the $2,800 resistance level and confirm it as support. Otherwise, focus may shift to other altcoins like ADA or BNB, which have been performing well recently.
Currently, Ethereum has found support at $2,400, but the momentum is lacking. If Ethereum fails to build on this support, it may struggle to attract renewed interest.
Ripple (XRP)
Ripple continues to hover around 60 cents, closing the week with a 6% increase. The cryptocurrency remains in a bullish bias but lacks momentum. Key support and resistance levels between 54 and 68 cents have remained intact without significant testing this week.
Until XRP breaks away from this flat trend, volatility is likely to remain subdued. The next critical resistance level to watch is 68 cents; breaking this could open the door to higher price levels.
Cardano (ADA)
Cardano experienced a significant rebound this week, with a 15% increase in price, making it the best performer among the cryptocurrencies analyzed. ADA managed to break the resistance at 37 cents, paving the way for further gains with the next target at 46 cents. The former resistance level has now become a key support.
ADA is showing promising signs that its downtrend may be over. If it successfully breaks the 46-cent resistance, it could set a new higher high, signaling the end of the correction that began in March.
Binance Coin (BNB)
Binance Coin had a strong performance this week, closing with an 11% increase. The cryptocurrency has confirmed support at $500 and is in a clear uptrend. The next target is $600, and if this level is reached, BNB could aim for its all-time high (ATH) of $700.
With a double bottom at $500 behind it, Binance Coin is well-positioned to continue its rally. Indicators like the RSI and MACD are showing a bullish bias, supporting the potential for further gains.
Solana (SOL)
Solana has struggled to break higher and is currently stuck in a range after facing resistance at $164. The price has only seen a modest 1% increase over the week. This sideways action is causing concern among Solana fans, who are accustomed to the cryptocurrency’s volatility and high price swings.
Despite buyers defending the $134 support, they have been unable to overcome the current resistance. The key target remains $164, and significant buying volume will be necessary for Solana to break through this level.
Stay tuned for further updates and analyses as we continue to monitor these cryptocurrencies and their market movements.
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