Crypto NewsEthereum (ETH)

Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates

                                                            Diese Woche werfen wir einen genaueren Blick darauf Ethereum, RippleCardano, Solana und Binance Coin.

Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading News

This is what awaits you in this article

Ethereum (ETH)

Despite EthereumFusion’s bullish fundamentals, the price of the second largest cryptocurrency continued its downtrend, posting a 10% loss in the last seven days. At the time of this post, ETH managed to find some support at $1,250 but this level remains fragile.

Of the Resistance is not far off at $1,400 and bears are likely to become strong if the price manages to rally to that level. Unfortunately for the bulls, the buying volume just isn’t there to propel the price higher. With the weekend just around the corner, volume is likely to drop further and it’s likely we’ll have to wait until Monday to see any meaningful volatility.

Looking ahead, ETH appears to remain more in a downtrend. Only a clean break above $1,400 could reverse this negative bias. The daily time frame indicators are also giving a bearish signal and this is unlikely to change anytime soon.
Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading NewsChart from TradingView

Ripple has been one of the strongest performers in a market that has otherwise only seen red over the past week. With a 54% surge over the past seven days, XRP is back in the spotlight, fueling rumors as to what may have caused the surge.

This recent rally stalled as the price hit resistance at $0.55. XRP is currently taking a break after such a significant move and is consolidating below this key resistance. Support stands at $0.44 and may not be tested if buyers remain interested.

This move by XRP caught the market by surprise considering both BTC and ETH have both made lower lows over the past week. The biggest question is whether the buyers will be able to sustain this rally and protect these recent gains. XRP is well-known for its strong price increases, with only a gradual one correction back to previous price levels follows.
Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading NewsChart from TradingView

With the Vasil upgrade When Cardano went live, it had a good attempt to rally, but the volume just wasn’t there to make it count. Because of this, the price of ADA has lost 2% over the past seven days. Support stands at $0.43 and this key level has managed to halt the downtrend in the past.

To reverse the course of ADA and get into an uptrend, buyers need to break $0.50. Otherwise, the cryptocurrency will continue to move sideways between these key levels as before. The indicators are also rather flat, pointing to a consolidation phase.

Looking ahead, ADA appears to be taking its time before making any significant move. The bias is neutral. The best thing that can happen to Cardano right now is a break of the key resistance at $0.50.
Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading NewsChart from TradingView

Solana (SOL)

The recent rejection at the $38 resistance has pushed Solana’s price into a downtrend, which has lost 3% of its valuation in the last 7 days. Now, SOL is sitting at the critical support with the price hovering just above $30.

Buyers must do everything possible to protect the keysupport, otherwise Solana will enter a very dangerous area that could lead the price to a significant drop. Buyers managed to defend the $30 support in August and September, but the current market is not in their favour.

The indicators are not giving clear indications of where Solana might go next and are rather neutral. This shows that market participants are hesitant. Usually, this type of price movement precedes a larger movement in one direction or another. So it is best to prepare for it.
Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading NewsChart from TradingView

Binance Coin (BNB)

Binance Coin has lost the uptrend established in March 2020. This could cause problems in the future as its price could see a significant correction. For now, the cryptocurrency is consolidating in a descending triangle, shown in blue on the chart. This is why BNB rose only 1% compared to seven days acrit

The key support is at $261 and the resistance is at $300. This descending triangle will likely resolve by mid-October, at which point we will know where Binance Coin is headed next. If the price falls below the triangle, bears are likely to dominate the price action and target $200.

Despite this bearish outlook, BNB fundamentals remain strong and a significant price drop could be followed by a recovery soon. This is dependent on the overall crypto market recovering as this will bring back demand for BNB on the largest crypto exchange behind the coin.
Ethereum, RippleCardano, Solana and Binance Coin – Crypto News Updates, Crypto Trading NewsChart from TradingView

Source: Crypto News Deutsch

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