In recent weeks, the cryptocurrency market shows noticeable changes, with positive dynamics across several altcoins like Ethereum (ETH), Solana (SOL), and Ripple (XRP). It's essential to review the current trends and forecasts for these assets.
Ethereum: Recovery and Support
Ethereum (ETH) rallied about 11% over the past week, trading near $2,500. The asset has been consolidating just below this level, allowing momentum indicators to reset. The 14-day RSI is hovering around neutral, indicating no extreme buying or selling pressure. ETH has broken above key resistance in the $2,370–$2,400 range, turning it into potential support. It is supposed that as long as bulls maintain this zone, the broader uptrend structure remains intact.
Solana: Ascending Channel and Anticipated Breakout
Solana (SOL) continues to demonstrate constructive price action, albeit within a range-bound ascending channel. Following a dip in mid-June, SOL found support near $120. Bullish sentiment holds this level, starting to form higher lows. Currently, SOL is trading above moving averages, however, traders await a decisive catalyst to push beyond the range.
Ripple: Holding Support After Breakout
Ripple (XRP) experienced a technical breakout, surging above the $2.20 resistance on unusually high trading volume. Current prices are being held in the $2.22–$2.23 zone as new support. Despite some profit-taking, bullish sentiment remains strong and XRP is positioned in a new technical context, stepping away from a previously established descending wedge pattern.
Current trends in the cryptocurrency market show positivity for ETH, SOL, and XRP. The resilience of these assets depends on buyers' abilities to maintain key support levels and surpass market expectations.
