Recent fluctuations in the altcoin market have significantly impacted Ethereum (ETH), Avalanche (AVAX), and XRP. Traders are watching critical support and resistance levels closely to understand future trends.
Current Situation with Ethereum’s Price
Ethereum has remained above the $1,800 mark since early March. After a brief drop to $1,761, it recovered to around $2,100 but faced resistance there. As of the latest update, the price hovers near $1,977, indicating a crucial support level at $1,800 and a resistance point at $2,100.
Will AVAX and XRP Recover?
Avalanche is recovering from earlier lows of $15 but facing challenges at the 21-day moving average. It remains range-bound between the support at $15 and the moving average. For AVAX to gain upward momentum, it must exceed both the 21 and 50-day moving averages, which are currently trending downward.
XRP has seen a boost after crossing several moving averages but is now encountering resistance at the 50-day average. Trading around $2.40, XRP previously peaked at $2.60 before trending downward. Should the 50-day level hold, a potential rally toward $3 could occur; however, losing this support might lead to a drop to $2 or even further down to $1.78.
Support and Resistance Analysis for Altcoins
Ethereum's critical support at $1,800 remains pivotal for avoiding further declines. Avalanche's resistance points are essential for initiating upward movement. XRP faces selling pressure if it falls below the 50-day average, making support stability crucial for its growth.
The current market volatility introduces uncertainty for Ethereum, AVAX, and XRP, yet clear trends may emerge soon. Investors should closely monitor key levels to adapt to market changes.
