This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin.
Ethereum (ETH)
Recently, Ethereum’s price surged by 17% in response to news of an upcoming ETF from BlackRock. This significant increase brings the price just below the key resistance at $2,150 in a large ascending triangle. If the price breaks above that level, it could lead to a rapid rally in the near future. This development signals a potential challenge to Bitcoin’s dominance in the coming weeks.
Ripple (XRP)
XRP also experienced a positive week with a 10% increase, reaching the 68 cents resistance level. While a short pullback may occur before further gains, the current momentum favors buyers. The overall market excitement suggests that XRP may continue to perform well in the near future.
Cardano (ADA)
Cardano saw a remarkable 17% increase this week, rivaling ETH’s performance. With a local high at almost 39 cents and support at 35 cents, ADA could soon reach 40 cents if it breaks the key resistance. However, sellers may also return at this level.
Solana (SOL)
Solana took the lead among major altcoins with a staggering 25% increase this week, breaking the $44 resistance which now serves as support. This breakout opens up the potential for SOL to aim for higher levels, possibly reaching $67 if buyers maintain their dominance.
Binance Coin (BNB)
Binance Coin broke through the $230 resistance and saw a 10% increase this week. However, with the current resistance at $265, there is limited uptrend potential unless BNB breaks above that level. If not, it may continue to range below this key resistance.
Hot Take
Overall, Ethereum, Ripple, Cardano, Solana, and Binance Coin have shown significant growth and potential for further gains in the near future as they continue to challenge key resistance levels.
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