As mining sales lead to a decline in Bitcoin prices, counterfeit coins also experience fluctuations. So, what are the expectations for XRP, SOL, and ADA? With the upcoming Federal Reserve meeting minutes to be released tonight, geopolitical risks, and tomorrow's inflation data, there are many factors that can suppress the price of Bitcoin
As mining sales lead to a decline in Bitcoin prices, counterfeit coins also experience fluctuations. So, what are the expectations for XRP, SOL, and ADA? With the upcoming Federal Reserve meeting minutes to be released tonight, geopolitical risks, and tomorrow's inflation data, there are many factors that can suppress the price of Bitcoin. The failed resistance test ultimately resulted in a decrease.
XRP
The XRP coin price is currently at a critical support level. Most counterfeit coins are concerned about further declines in Bitcoin prices. On the other hand, bad news about cryptocurrencies is constantly emerging. At the time of writing, Caroline, who testified in the FTX court case, was explaining how they aimed at the Coin Exchange.
During the upward trend in early October, the buyer failed to break through the symmetrical triangle and was rejected at a resistance level of $0.56. This indicates that sellers continue to focus on short-term profits. Two days ago, prices fell below the moving average. This is the first sign of bull weakness.
Recent developments indicate that the XRP currency may remain in consolidation between $0.41 and $0.56 for a period of time. The first downward target is $0.46, followed by $0.41. If BTC's target is $26000 or above, XRP coins may follow suit. On the other hand, if the closing price is above $0.52, the target price may be $0.56.
Solana (SOL) analysis
Solana has shown a relatively strong stance as it holds a key support level of the 20-day moving average of $21.79. Last week, institutional investors allocated over $20 million to SolanaETP, which is an important development.
If SOL continues to move upwards, it will attempt to form a reverse head and shoulder shape. If the neckline is broken, the target for this reversal pattern may be $32. However, if support is lost, it is possible to return to $20.44 and $18.5.
Caldano (ADA) analysis
Similar to XRP coins, the price of ADA coins faces insufficient demand due to falling below the moving average. The long-term issues of the project prevented positive disagreements from arising. DJED did not receive the expected attention, so there is no reason for prices to remain firm. The support level of $0.24 may be tested, but a positive deviation from RSI can prevent further decline.
If support is lost, ADACoin's target can be $0.22 and $0.2. BTC has not yet recovered $26800.
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