Ethereum (ETH)
– Ethereum has shown indecision in the past week, resulting in a 5% loss.
– Despite the correction, ETH remains above the key support at $1,820.
– The current resistance is found at $2,000, but buyers have not been able to turn it into support.
– ETH is likely to continue ranging above the key support until a breakout occurs.
– Bears currently have the upper hand, so a test of the key support at $1,820 is possible.
Ripple (XRP)
Ripple has experienced a downward trend in the past week. The cryptocurrency struggled to surpass the resistance at $0.55 and eventually dropped by 8%. It is now trading below the key support at $0.50.
If the bearish momentum continues, XRP could test the next support level at $0.45. On the other hand, if buyers regain control, they will need to surpass the resistance at $0.55 for a potential upward move.
Cardano (ADA)
Cardano has shown strength and resilience in the past week despite the overall market sentiment. It managed to hold above the key support at $1.20 and even made a slight upward move. However, it is still facing resistance at $1.30.
If ADA can break above the resistance, it could see further gains towards $1.40. On the downside, a break below the support at $1.20 might lead to a test of the next support level at $1.10.
Solana (SOL)
Solana has been in a strong uptrend, reaching new all-time highs in the past week. The cryptocurrency gained over 20% and is currently trading above the key support at $100. The next resistance level to watch is $120.
If the bullish momentum continues, SOL could see further upside towards $150. However, a break below the support at $100 might indicate a short-term reversal.
Polygon (MATIC)
Polygon has experienced a significant price increase in the past week. The cryptocurrency surged by over 30% and is now trading above the key resistance at $1.60. The next resistance level to watch is $2.
If the bullish momentum persists, MATIC could see further gains towards $2.50. On the downside, a break below the support at $1.60 might lead to a test of the next support level at $1.40.
Hot Take:
– Ethereum is currently facing indecision and a possible test of key support at $1,820.
– Ripple is struggling to surpass resistance at $0.55 and may test support at $0.45.
– Cardano has shown strength and could see further gains if it breaks resistance at $1.30.
– Solana is in a strong uptrend and may continue to rise towards $150.
– Polygon has experienced significant price increase and could see further gains towards $2.50.
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