Ethereum (ETH) Price Analysis
Ethereum closed another week in the red after a 3% price drop. Despite attempts by buyers to keep the price above $2,400 following the announcement that ETH will be included in the upcoming US Crypto Strategic Reserve, they couldn’t hold it for long.
As of this post, Ethereum is attempting to return to the resistance at $2,400, which needs to break for an uptrend to follow. While the momentum on lower timeframes (like the 4-hour chart) is bullish, on higher timeframes (such as the weekly chart), the trend is still bearish.
Outlook
Looking ahead, Ethereum has a good shot at a recovery as long as it holds above $2,000. With the White House Crypto Summit expected this Friday, positive news could further strengthen the market and bring buyers back.
Ripple (XRP) Price Analysis
Ripple experienced a strong rally this week, surging 13% on news that it would be included in the US Crypto Strategic Reserve. For a brief period, the asset nearly touched $3.
To maintain the uptrend, buyers will need to break the resistance at $3, which halted the bullish impulse earlier in the week. After a strong rally on Monday, the price entered a pullback, which may last a while before another attempt at a breakout.
Outlook
XRP appears to be consolidating between $2 and $3. A breakout from this range will likely cause the price to move significantly. This latest news has put buyers at an advantage, making it crucial for them to push past key resistance levels.
Cardano (ADA) Price Analysis
Cardano saw a remarkable rally of 80% between Sunday and Monday following Trump’s tweets about the US Crypto Strategic Reserve. The price briefly touched $1 before a pullback took it below this key level. However, ADA closed the week with an impressive 41% gain.
This news has turned the chart bullish, but for the trend to be sustained, ADA needs to break the resistance at $1.32, forming a higher high. This would confirm that the bullish trend is here to stay.
Outlook
If ADA can break resistance at $1 and $1.30, it has a real shot at reigniting the rally from November 2024. Support is found at $0.90, and ADA has significant potential if buyers take control of the price action.
Binance Coin (BNB) Price Analysis
Binance Coin did not experience any significant movement this week, as Trump did not mention BNB in his tweets. The price closed the week with a modest 2% loss. However, BNB is currently hovering around $600, which is a great place for buyers to make their presence felt.
Last week, BNB found solid support around $550, where the asset consistently bounced as buyers returned. Currently, BNB is attempting to turn $600 into a key support, although it is still too early to confirm this.
Outlook
If BNB manages to stay above $600, bulls may gain momentum, especially with heightened volatility expected on Friday as more news emerges from the US regarding its crypto policy. Traders should keep an eye on this level for further opportunities.
Solana (SOL) Price Analysis
Solana spiked to $180 when Trump tweeted about it being included in the US Crypto Strategic Reserve. However, sellers quickly pushed the price back down within 24 hours, resulting in only a 5% gain for the week.
Despite the significant pullback, Solana managed to confirm $134 as a key support level, which was tested multiple times without breaking. This is a positive sign, as it suggests that buyers may soon attempt to break the current resistance at $164.
Outlook
Solana has a good opportunity to reverse the downtrend that resulted in a recent lower low. To confirm a reversal, bulls will need to push SOL above $164 in the near future. This price level is critical for Solana’s short-term bullish outlook.
Key Takeaways
- Ethereum (ETH) is attempting a recovery above $2,000, with key resistance at $2,400. Positive news from the White House Crypto Summit could fuel momentum.
- Ripple (XRP) rallied 13% this week and is consolidating between $2 and $3, with a breakout expected to lead to significant price movements.
- Cardano (ADA) posted a 41% weekly gain but needs to break resistance at $1.32 to confirm a sustained bullish trend.
- Binance Coin (BNB) saw a slight 2% loss but remains positioned at $600, a crucial level for buyers to watch in the coming days.
- Solana (SOL) confirmed $134 as a key support and may attempt to break the $164 resistance to reverse the current downtrend.
Ecosystem
Research
News Network
About