Crypto currency markets remain volatile as the anticipated halving process in April 2024 draws near. While the potential significant impacts of halving on Bitcoin (BTC) are being emphasized, what is the current situation with altcoins? Here are the latest updates on altcoins!
Ethereum (ETH)
Experts suggest that Ethereum has found good support at $2,200 and recently reverted to an upward trend, closing the week with a 3.6% price increase. The price movement looks promising, and buyers may be returning to the market. This optimism in the crypto currency is also reflected in the daily MACD, which is making higher lows on the histogram. Moreover, experts believe that ETH is on the rise again and could soon approach $2,500. If this upward trend continues, it will be an important level to monitor.
Ripple (XRP)
Ripple (XRP) had a tough week with ongoing sales. Consequently, the price fell by 2.5%, showing no signs of a changing momentum. Additionally, the personal wallets of the Ripple president, who admitted to holding over $100 million in XRP, were compromised. This news intensified the downward trend and increased selling pressure. It is indicated that XRP’s current support is at 43 cents. Hopefully, XRP can bottom out at this point and initiate a recovery.
Cardano (ADA)
Cardano (ADA) had a good week, showing an 8.6% increase, making it one of the best performers on our list. The price movement looks promising, and buyers are showing renewed interest. If this uptrend continues, the key level to watch could be the 60-cent resistance that prevented the bulls from pushing ADA higher in January. Considering the upcoming period, the crypto currency is on an upward trend, and momentum indicators confirm this trend. For example, the daily Relative Strength Index (RSI) is currently above 50 points and has entered the bullish zone.
