Cardano (ADA)Crypto NewsEthereum (ETH)Polkadot (DOT)Ripple (XRP)

Ethereum, Solana, Cardano, Ripple, and Polkadot

                                                            Diese Woche werfen wir einen genaueren Blick darauf Ethereum, Solana, Cardano, Ripple, und Polkadot.

This is what awaits you in this article

Ethereum (ETH)

As expected, ETH has finally found support over the past week, seemingly halting the downtrend that started in November. The price managed to hold well above the $3,000 support level but has yet to fully recover, posting a 4.6% loss in the past 7 days.

If the current recovery rally continues, then ETH has a good chance of retesting the key resistance at $3,600, which is likely to provide a strong fight. Current price action shows traders taking profits around $3,300 after entering at the key support where the market now appears to be consolidating.

Looking ahead, ETH seems well positioned to continue its climb towards the key resistance. Along the way, buyers will need to show tremendous strength to break the downtrend that started in November.
Ethereum, Solana, Cardano, Ripple, and Polkadot, Crypto Trading NewsChart from TradingView

Solana (SOL)

SOL downtrend was stopped by the $130 support level. The sellers were unable to do that cryptocurrency to push down and the price has since rebounded, quickly moving towards $150 where SOL is currently at resistance bumps. Overall, it lost 3% of its rating in the last seven days.

If the cryptocurrency can scale above $150, the next key resistance is $170 and it is likely a much more difficult level to break. However, as the price found support at $130, volume and interest in SOL has increased, giving it good momentum to the upside.

Looking ahead, if SOL fails to break above $150, it is likely to consolidate above the key support until enough momentum returns to propel the price toward a breakout.
Ethereum, Solana, Cardano, Ripple, and Polkadot, Crypto Trading NewsChart from TradingView

Cardano (ADA)

Although ADA showed a lot of resilience at the $1.2 support level, the bears finally managed to push it down to $1.1 for the past week. Since then, the bulls halted the sell-off and brought the ADA back above $1.2. After this back and forth, ADA registered almost no price change compared to seven days ago.

Even with the bulls in control of the current price action, the overall trend for ADA remains bearish at the time of writing. This recent decline has made a new lower low and until ADA makes a higher high or a high low, the bulls are unlikely to reverse the downtrend.

ADA also has a key resistance at $1.5, which is quite far from the current price. Therefore, buyers need to step up their game if the cryptocurrency is to break away from its current trend.
Ethereum, Solana, Cardano, Ripple, and Polkadot, Crypto Trading NewsChart from TradingView

Ripple (XRP)

XRP found support at $0.70 for the past week and has since surged towards $0.80 where it was rejected by the bears. Similar to ADA, the price today is very close to where it was seven days ago. As such, XRP managed to recover from the recent low and seems poised to move higher.

The key resistance currently stands at $0.85 and XRP needs to break the downtrend started in November to move higher. Breaking the key resistance would ensure that.

Additionally, buyers have some good news as the daily MACD made a bullish crossover today. This gives XRP hope that bullish momentum can form in the coming days. However, the key resistance currently remains a challenge to break.
Ethereum, Solana, Cardano, Ripple, and Polkadot, Crypto Trading NewsChart from TradingView

Polkadot (DOT)

DOT is stuck in a very large range between the key $24 support and the $32 resistance. The price bounced off support twice, most recently this past Tuesday, and DOT registered almost no change in its price compared to seven days ago – very similar to XRP and ADA.

The current bias for DOT can be interpreted as slightly positive as the daily MACD crossed on the bullish side on Wednesday while the RSI is signaling a bullish divergence. These elements are raising confidence that DOT may attempt a rally to key resistance in the coming week.

It is too early to tell if DOT will be able to break the key resistance at $32 and the last time this was attempted the price was pushed down sharply. Until a breakout, the cryptocurrency continues to trade within the existing price range.
Ethereum, Solana, Cardano, Ripple, and Polkadot, Crypto Trading NewsChart from TradingView.

Source: Crypto News Deutsch

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