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Bitcoin’s price had a strong start to the new month, continuing to hold above $38,500. Witnessing new peaks with each new month is gratifying. On Binance exchange, BTC climbed to $38,999 yesterday, reaching a 19-month high. Investors interested in cryptocurrencies like XRP, SOL, and ADA Coin are also curious about when the new rallies will start. Today, we take a current look at three popular cryptocurrencies.
Ripple (XRP) Commentary
XRP Coin, which has been battling with the SEC for years and managed to survive, is solidifying the 20-day EMA as support. The price maintaining the critical region as support indicates that declines are whetting the appetite of buyers. Especially as the BTC price rises, XRP Coin remaining below last month’s resistances could be increasing motivation.
If an upward breakout occurs, we could see a quick recovery to $0.64 and $0.67. These levels had been permanently overcome, but faced massive sell-offs after the BlackRock news turned out to be false. However, in an optimistic scenario, overcoming the resistances again could target $0.74 and $0.85.
Conversely, closures below $0.6 could trigger sales down to $0.56. This could be followed by a drop to $0.42. However, the likely trigger for this would be a fall in the BTC price to the $30,800 range.
Solana (SOL) Chart Commentary
Even though bears intensified their selling at the end of November, they couldn’t keep the price below $59. With SOL Coin exceeding $62 again, it could reach up to $68. As we’ve been mentioning for weeks, closures above $68 could potentially open the door to three-figure prices. However, if there are closures below $59, sales could continue down to the region between $51 and $48.
ADA Coin Predictions
The bulls managed to overcome the $0.4 threshold, albeit with difficulty, only to face significant disappointment. Price fluctuations in BTC are disheartening and can erase gains after a tough battle. The price is trapped between the 20-day EMA and the $0.40 resistance area. The gradually rising 20-day EMA and an RSI above 58, along with the increase in BTC, indicate that the resistance could be breached again.
In the reverse scenario, we could see a drop to $0.34.
- Bitcoin maintains its position above $38,500.
- XRP, SOL, ADA investors anticipate potential rallies.
- Altcoins show mixed signals, facing key resistance levels.
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