• This week, we take a closer look at Ethereum, Ripple, Cardano, Litecoin, and Solana.
• Ethereum (ETH) saw the bulls take over the price action, pushing it to a key resistance at $1,260.
• Buyers are in control with higher lows and higher highs in the price action, suggesting that sellers are exhausted or lack interest at this moment.
Crypto markets have been on a wild ride this week as investors were eagerly awaiting the next major move in the market. Ethereum (ETH), Ripple (XRP), Cardano (ADA), Litecoin (LTC), and Solana (SOL) were all in focus this week and each of them displayed different patterns in the market.
Ethereum (ETH) saw the bulls take over the price action this Wednesday, pushing it all the way to the key resistance at $1,260. Since then, the price has been unable to break above this level, but it still managed to book a 3.8% increase in the past seven days. The fact that in the past two days, the price has been rather timid in pulling back from this most recent rally suggests that sellers are exhausted or lack interest at this moment. This could turn into a key opportunity for the bulls. The current price action of ETH is giving good signals that buyers are in control with higher lows and higher highs. If they are able to maintain this momentum, the next target for the bulls could be the $1,350 resistance.
Ripple (XRP) was trading in a tight range between the $0.25 and $0.27 levels during the past week, with no major breakouts on either side. The bulls were able to push the price above the $0.27 resistance but they were unable to sustain the momentum and the price was rejected back down. At the same time, the price was also unable to break below the $0.25 level, which showed that the buyers are still in control of the market. If the bulls can maintain their strength in the market, then the next target for XRP could be the $0.30 resistance.
Cardano (ADA) was also trading within a range over the past week, with the bulls and the bears unable to make any breakthroughs. The buyers have been pushing the price up to the $0.45 resistance but the sellers have been pushing the price back down. The current price action suggests that the buyers are still in control and that the bulls are still trying to break the $0.45 resistance. If they are successful, then the next target for ADA could be the $0.50 level.
Litecoin (LTC) was also trading in a tight range during the past week, with the bulls and the bears unable to make any major breakthroughs. The buyers were pushing the price up to the $140 resistance but the sellers were pushing the price back down. The current price action suggests that the buyers are still in control and that the bulls are still trying to break the $140 resistance. If they are successful, then the next target for LTC could be the $150 level.
Finally, Solana (SOL) saw the bulls take over the price action this week, pushing it up to the $20 resistance. The buyers were able to break this resistance and the price was able to record a 13.6% increase in the past seven days. The current price action suggests that the buyers are still in control and that the bulls are still trying to break the $20 resistance. If they are successful, then the next target for SOL could be the $25 level.