The upside momentum within the previous week saw Ethereum rallying towards $3,400, the current resistance. Buyers could not overcome this region, and the altcoin witnessed downward movements. Despite that, Ethereum remains 5.7% up over the previous seven days.
ETH has its steady support at $3,000, and extending the current downswing will see the alt testing this area before attracting buyers again. Meanwhile, the Moving Average Convergence Divergence displays a plunging histogram on its daily chart. That shows faded momentum by buyers.
For now, Ethereum’s fall to $3,000 before another bullish strength appears plausible. The latest rally led to overextended conditions, and market players somewhat expected the downtrend.
Ripple (XRP)
Ripple’s price has encountered a massive resistance at $0.86, and buyers could not break past the area after multiple attempts. Moreover, bears pushed XRP lower towards $0.78 amid yesterday’s session. That had the token closing the week with a 2.4% drop.
However, sellers need more strength to drag XRP towards the support floor at $0.70. So far, bulls have prevented massive price losses, though the downside pressure is magnifying. The Moving Average Convergence Divergence completed a bearish cross yesterday, indicating an end to the latest rally.
Also read:For now, sellers have a chance to dominate Ripple, pushing the cross-border transaction token towards the $0.70 foothold. The current momentum shift favors selling activity.
The massive rally of the year has ADA facing massive resistance at $1.2. For that reason, ADA’s total gains within the past weeks appear less impressive as the alt gained 2% only. If the token fails to move past this crucial resistance and flip it to support, Cardano will likely consolidate between the $1.2 resistance and $1 support. Indicators display bullishness during this publication, and buyers might go offensive soon with the present volume.
For now, ADA has a chance to keep its upward bias, even if it seems prepared to touch vital support following the $1.2 rejection.
Solana (SOL)
Solana continued to surprise its enthusiasts this week, with SOL moving higher regardless of the market fall. The alternative coin surged by 23% over the previous seven days. The bullish strength remains strong, but the alt swiftly approached the $130 crucial resistance. The current surge has persisted since 14 March, and the high the move, the higher chances of a pullback.
Indicators do not present ant weakness signal and the moment, and SOL’s crucial support stands at $100. That gives investors lucrative time to prepare themselves before a potential correction.
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