This article provides an analysis of price movements for key cryptocurrencies, including Ethereum, Ripple, Cardano, Solana, and Binance Coin. Notable changes and future predictions based on current market conditions are highlighted.
Ethereum (ETH)
This week, Ethereum reached new lows again, with the price briefly dropping to $1,400 before buyers returned. The asset closed the week with a 14% loss. Support at $1,400 seems to hold for now, but the overall momentum remains substantially bearish, with a drop of over 60% in the past four months. If this support is not maintained, sellers may target close to $1,000 next.
Ripple (XRP)
After significant fluctuations, sellers managed to break the key support at $2 and briefly drove the price down to $1.6. However, buyers returned strongly, pushing the price back to $2, resulting in only a 4% loss for XRP this week. Despite this bounce, a lower low was formed, placing the cryptocurrency in a downtrend, especially if the $2 level becomes resistance.
Cardano (ADA), Solana (SOL), and Binance Coin (BNB)
Cardano saw a decline, closing near $0.5, with a 5% loss. If the $0.64 level becomes resistance, it could give sellers an advantage. Solana briefly dipped below $100 but buyers took advantage, closing with just a 1% loss. Binance Coin managed to maintain its price above $550, which is a positive sign for potential movement towards the $600 level.
The overall analysis indicates that many major cryptocurrencies are exhibiting bearish movements amid market uncertainties. Key levels of support and resistance are crucial for future price developments.
