Bitcoin price volatility has returned. The price is currently choosing to remain stable, holding onto critical support. Altcoins are also trading near critical support levels as this sideways movement continues. So, what are the important levels for ETH, Ripple (XRP), Cardano (ADA), DOGE, and SOL Coin? Let’s examine the possible targets based on the latest data.
Ethereum (ETH) Analysis
The inability of bulls to initiate a strong recovery increases the risk of dropping below $1,626. In such a scenario, the ETH/USDT pair could drop as low as $1,550. If this level attracts the attention of bulls, we could see a strong bounce. However, in a scenario where selling pressure continues, the price could drop to $1,368 and eventually $1,155.
To invalidate the bearish scenario, bulls need to reclaim the $1,716 region.
Ripple (XRP) Coin Analysis
The fact that bulls have not been able to break above the $0.56 resistance level indicates a lack of demand at higher levels. Similar to ETH, if XRP fails to see a bounce from $0.5, the price could experience larger losses. In the bearish scenario, the $0.46 and $0.41 regions are of critical importance.
On the contrary, if the price rises and surpasses $0.56, it could test $0.64.
Cardano (ADA) Coin Price Prediction
Cardano has been fluctuating within a narrow range of $0.24 to $0.28 for the past few days. This indicates that bulls are buying near support and bears are selling near resistance. If buyers push the price above the $0.28 general resistance, the ADA/USDT pair could initiate a rally towards the 50-day SMA ($0.29).
In a positive scenario, $0.34 could be tested. However, bears might have other plans. They will try to defend the general resistance and pull the price towards the support range of $0.24. If this level is broken, the pair could drop to $0.22 and eventually $0.20.
Dogecoin (DOGE) Analysis
Dogecoin has been trading between the strong support of $0.06 and the 20-day EMA ($0.07) for the past few days. The 20-day EMA is sloping downwards and the RSI is in the negative zone, indicating an advantage for bears. Sellers will try to push the price below $0.06 and further strengthen their positions.
If DOGE buyers surpass $0.07, the bearish scenario can be invalidated.
SOL Coin Price Predictions
The gradual decline of Solana indicates that bears are attacking every minor relief rally. In the short term, the SOL/USDT pair could drop to $19.35, which is the intraday low on August 22. If this level is reached, selling pressure could intensify.
In the ongoing bearish scenario, the pair could be pulled towards $18 and eventually the next major support at $15.60.
On the contrary, if the price rises and surpasses $22.30, it would indicate a strong buying at lower levels. In the bullish scenario, $23.61 and $26 could be visited.
