As Bitcoin’s price continues to fluctuate, those focused on short-term trading are finding opportunities. Investors who can identify the right intervals are able to profit from this volatility. What do the current predictions tell us about SOL, XRP, and ADA Coin? These three popular altcoins have also experienced their share of high volatility.
Solana (SOL) Price Chart Analysis
Solana has seen a declining price in the last few days, dropping below the 50-day SMA (91 dollars) on January 22. The bears’ strength was largely fueled by negative market sentiment. Specifically, social media rumors about the distribution of billions of dollars in BTC to MTGOX creditors were a primary motivation for the sell-offs.
Moving averages and RSI indicate a downtrend, suggesting a stronger possibility of a continued decline. Although there is a weak support at the 77-dollar region, it could be easily lost if BTC retests the support area at 38,500 dollars.
If the downturn deepens, the price could halve from its peak to 64 dollars. The downtrend line is the main barrier to watch for an upward move. If bulls overcome this resistance, a jump to 107 dollars could be seen.
XRP Coin Price Analysis
XRP retreated from the 20-day EMA (0.56 dollars) on January 15. About 5 days ago, XRP Coin fell below the 0.54-dollar support. The 20-day EMA is sloping downward, and the RSI is close to the oversold region. If the decline continues, the 0.46-dollar support could be tested, and below that, the 0.41-dollar region may be targeted.
Conversely, if the 0.56-0.58 dollar range is breached, the 0.67-dollar peak could be aimed for.
ADA Coin Chart Analysis
ADA Coin, which has been declining within a descending channel formation, has consistently faced selling at higher levels. Throughout the past year, ADA Coin investors repeatedly pressured the price with sales at every opportunity. Although this vicious cycle was broken at the end of the year, the general market sentiment erased these gains.
The falling 20-day EMA (0.52 dollars) and RSI suggest that sellers have taken full control. Sellers will struggle to push the price below the channel, aiming for ADA Coin to drop to 0.35 dollars.
