This week, Ethereum has experienced a 4.7% price increase, bringing it closer to the key resistance level of $2,100. While this level has been tested before this month, a potential breakout could pave the way for ETH to reach new highs. The momentum remains bullish, with sellers struggling to contain the uptrend. This increases the chances of a breakout in the coming week. If successful, major levels to watch out for include $2,500 and $3,000.
Ripple (XRP) has found support at 57 cents and has seen a modest 0.3% increase. However, the current resistance at 68 cents remains intact, posing a challenge for buyers. The momentum is not yet fully in favor of bulls, but with a positive market sentiment, XRP could gain the necessary strength to test the resistance level once again.
Cardano: Strong Bullish Trend
Cardano (ADA) had a successful week, with a 4.7% price increase. The current support level is at 38 cents, while the resistance is at 41 cents. The bullish momentum continues, and if it persists, ADA could potentially test the key resistance level. Buyers will need to make decisive moves to break through the resistance, as sellers could pose a challenge at that level.
Solana: Temporary Pause in the Rally
Solana (SOL) experienced a temporary halt in its rally, but buyers managed to keep the price above $50. Although SOL saw a 1.3% decline this week, the overall control remains in the hands of buyers. This opens the possibility for Solana to reach the $67 resistance level once again. Corrections appear shallow, indicating the potential for new highs in the future.
Binance Coin (BNB) faced a volatile week, with significant selling pressure due to the DoJ announcement and CZ stepping down as CEO. Despite the intense selling, BNB managed to find support at $230 without hitting new lows. As long as the cryptocurrency holds above this level, a recovery seems likely. The resistance at $265 remains a significant barrier to overcome.
Overall, the mentioned cryptocurrencies have experienced mixed performance this week. Ethereum shows signs of positive momentum, with a potential breakout on the horizon. Ripple and Cardano face resistant levels that could limit their upward movement. Solana remains strong despite a temporary pause in its rally, while Binance Coin faces challenges following recent news events. Investors and traders should closely monitor these cryptocurrencies in the coming week to identify potential opportunities and risks.
