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Reading: Watch the Market: Ethereum, Ripple, Cardano, Binance Coin, and Solana Show Mixed Signals
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COINTURK NEWS > Altcoin News > Watch the Market: Ethereum, Ripple, Cardano, Binance Coin, and Solana Show Mixed Signals
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Watch the Market: Ethereum, Ripple, Cardano, Binance Coin, and Solana Show Mixed Signals

In Brief

  • Ethereum shows potential upward movements while holding above crucial support.

  • XRP faces critical resistance and needs to maintain its support level.

  • Solana exhibits strong activity, driven by new trends and projects in the market.

Fatih Uçar
Fatih Uçar 4 months ago
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In the cryptocurrency market, traders are closely watching Ethereum (ETH) $2,583, Ripple (XRP) $2, Cardano (ADA) $0.782494, Binance Coin (BNB), and Solana $173 (SOL). Each of these assets is fluctuating between significant support and resistance levels. Market participants are curious about the potential performance of these altcoins as they anticipate new movements.

Contents
Ethereum Struggles Above Support LevelXRP Waits at a Critical LevelCardano Faces AmbiguityBinance Coin Holds Above SupportSolana Continues to Rise

Ethereum Struggles Above Support Level

Ethereum managed to hold above the $3,300 mark this week, reflecting a modest 1% increase. Although this percentage seems low, it indicates the presence of buyers at this critical support level. The bullish crossover observed in the daily MACD indicator and the rising lows in the RSI suggest upward momentum.

Ethereum ETH Coin Price Analysis

Experts believe ETH has a higher probability of retesting resistance levels at $3,600 and $4,000 as the upward trend persists. Given the significant gains of other altcoins in recent weeks, ETH is expected to participate in these rallies more vigorously.

XRP Waits at a Critical Level

Ripple (XRP) has seen a 5% decline this week and has struggled to break above the $3.4 mark. The price remains around the $3.2 range, making efforts to stay above the critical $3 support level. However, insufficient buyer interest leaves XRP at a precarious point.

Ripple XRP Coin Price Analysis

If XRP drops below the $3 support level, further negative price movements are expected. Conversely, breaking above the $3.4 mark could push the price toward the $4 range, shaping market participant expectations for this altcoin.

Cardano Faces Ambiguity

Cardano has declined by 11% this week and found support at the $1 level. However, selling pressure continues to anchor the price at this level. ADA remains trapped within a narrow range between the $1.3 resistance and $0.90 support levels.

Cardano ADA Coin Price Analysis

Breaking out of this narrow band will be crucial for ADA’s future price movements. A price move outside of these levels could set the stage for new trends; however, current movements hint at a sideways trend.

Binance Coin Holds Above Support

Binance Coin is preparing to close the week with a 4% loss, currently trading below the $700 mark. It attempts to stabilize above the $690 support level, but the bearish trend seen in the daily MACD indicator suggests that increased selling pressure may follow.

Binance Coin BNB Price Analysis

Should the price drop below the $690 level, BNB could decrease to $650 or even $600. Conversely, regaining the $700 level might signal the beginning of an upward movement.

Solana Continues to Rise

Solana has caught attention with a 22% weekly increase, recently reaching a peak of $295. The newly launched Trump-supported memecoin, TRUMP coin, has sparked interest in the network and helped drive the price up. However, following this peak, the price has slightly corrected and stabilized at the $260 level.

Solana SOL Coin Price Analysis

Solana’s popularity is expected to remain strong with new projects and token launches. If the current demand persists, SOL could potentially surpass the $300 mark.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 24 January, 2025 - 8:36 pm 24 January, 2025 - 8:36 pm
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