Ethereum (ETH)Ethereum's attempt to break through $1660 was quickly blocked by buyers, and the price has returned to a key supporting trend line. Therefore, ETH closed down 2
Ethereum (ETH)
Ethereum's attempt to break through $1660 was quickly blocked by buyers, and the price has returned to a key supporting trend line. Therefore, ETH closed down 2.5% this week.
The momentum indicator is still bearish, and the lack of buyers is beginning to exert significant pressure on its support level of $1550. The worst part is that for over a year, the ratio of ETH to BTC has been in a bearish state, and this situation does not seem to end soon. This puts additional selling pressure on the price.
Looking ahead, if bulls do not appear soon, prices may fall from this large upward triangle, which will be a bearish signal and may lead to a significant decline.
XRP has performed well this week, with prices attempting to hit a resistance level of 57 cents. However, the seller intervened in advance to prevent this move, and the price is currently in the adjustment stage. Nevertheless, XRP successfully achieved a 2.5% price increase.
This indicates that the bulls are becoming eager. The kinetic energy indicators are also turning, and the MACD within the 3-day time frame has seen a bullish crossover this week. This may mark the beginning of a possible rebound.
Looking ahead, if the resistance level of 57 cents is broken, XRP may rise and rise to 68 cents. The current support level of 47 cents continues to remain good.
Caldano (ADA)
Cardano ultimately managed to break through 25 cents, and since confirming this level as a support level, prices have been rising. This resulted in a 5% increase in prices at the end of this week.
The next resistance level on the chart is 28 cents. If this momentum is maintained, the ADA may achieve this goal later next week. Due to the fact that Caldano has been in a downward trend over the past three months, this is a welcome change in price trends.
Looking ahead, as long as the overall market does not turn bearish, ADA has a good opportunity to take advantage of recent gains and push up prices.
Chaigou (SHIB)
Compared with ADA, SHIB has failed to break through the current range and is still in a stable trend with low volatility and trading volume. The company's valuation also fell by 2.3% this week.
As long as market participants do not return to Chaigou, this price trend may continue. There is no confidence to break through the current support level of $0.0000070 or resistance level of $0.0000075.
Looking ahead, it seems that SHIB is currently struggling to attract any buyers, and it is unclear whether this situation will change soon.
Solana (SOL)
Solana has decided to take a break this week without attempting to break through the resistance level of $25 for the second time. Nevertheless, it still successfully achieved a 15.6% price increase, making it the best performing company on our list.
$22 has good support, and if the price continues to adjust, buyers should return to that support level. Overall, SOL is still in a clear upward trend and may attempt to break through resistance levels after the pullback ends.
Looking ahead, Solana still has a good opportunity to explore higher levels in late October. The current targets on the chart are $25, $28, and $30.
Thank you for reading. Friends who like it can click like to follow. See you next time!
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
