Ethereum (ETH)
Ethereum closed the week in red, with its price falling by 6%. This decline followed unsuccessful attempts by buyers to push it above $2,800 on Monday, allowing sellers to take control.
The current downtrend appears steep, potentially revisiting the support level at $2,400, where buyers previously reversed price action. Until then, momentum remains bearish, especially on lower timeframes.
Compared to other market leaders, Ethereum seems to be lagging. Both Bitcoin and Solana performed significantly better this week, with Solana notably recording an 11% price increase, raising questions about Ethereum’s continued underperformance.
Ripple (XRP)
XRP struggled to hold above 54 cents, closing the week with a 5% loss. If buyers do not step in soon, XRP may drop to the next key support level at 48 cents, with the previous support at 54 cents now acting as resistance.
A major concern for XRP is the declining trading volume, which has decreased since its local high in March 2024. This has weakened breakout attempts, allowing sellers to dominate whenever buyers pushed XRP above 60 cents.
Looking ahead, the outlook is somewhat bearish following this recent breakdown. If buyers can halt the downtrend at 48 cents, XRP could rebound and challenge the resistance at 54 cents.
Solana (SOL)
Solana had an outstanding week, closing with an 11% price increase, contrasting sharply with the struggles of ETH and XRP. The price broke above $164, establishing an uptrend supported by increasing trading volume.
As Solana’s price rises, interest in the cryptocurrency is growing. The next key target on the chart is $200, a level not revisited since March 2024. If the price returns to this level, it would signify strength and encourage bullish sentiment.
As long as Solana remains above $164, buyers hold the advantage, eyeing the critical target of $200 ahead.
Dogecoin (DOGE)
Despite recent pullbacks, Dogecoin closed the week with a 2% price increase after moving above 14 cents. This level is currently being tested as key support, and if it holds, DOGE can maintain its bullish momentum.
If the 14 cents level remains intact, DOGE is positioned to rise towards 18 cents and potentially challenge the significant resistance at 20 cents, where sellers previously returned in March.
Looking ahead, Dogecoin has turned bullish after breaking away from its downtrend that began in April, with clear higher lows and higher highs suggesting further upward movement is possible.
Binance Coin (BNB)
BNB continues to search for a clear trend, as its price action has been stagnant for the past few months without significant breakouts. The week closed with a 2% loss, but the price remains close to $600, a key resistance level.
Lacking clear momentum, Binance Coin displays indecision, having failed to reach new highs since its June all-time high. To resume an uptrend, the price must break and hold above $600, which sellers have so far prevented.
Looking ahead, the price still struggles to find direction. Until a clear trend emerges, major moves from this cryptocurrency are unlikely. However, this situation may present a good opportunity for bullish investors to accumulate BNB.
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