• Ethereum (ETH) rose 3.8% in the past seven days and is currently lingering around the key resistance at $1,260.
• Ripple (XRP) is still trading within a descending channel pattern, with the Bulls struggling to break above the resistance at $0.30.
• Cardano (ADA) is up by 8.2% over the past seven days, with the Bulls targeting the $0.45 resistance.
This week, we take a closer look at the five major cryptocurrencies, Ethereum (ETH), Ripple (XRP), Cardano (ADA), Litecoin (LTC), and Solana (SOL). Ethereum (ETH) has been in an uptrend since the start of the year and this week was no exception. On Wednesday, the bulls took control of the price action and pushed ETH all the way to the key resistance at $1,260. Since then, the price seemed unable to break above. Nevertheless, Ethereum 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. Looking ahead, ETH is giving good signals that buyers are in control with higher lows and higher highs in the price action. Should they maintain the momentum, the price could easily break above the $1,260 resistance and surge to the next major resistance at $1,400.
Ripple (XRP) is still trading within a descending channel pattern, with the Bulls struggling to break above the resistance at $0.30. The key support for XRP is currently sitting at $0.28 and any breach below it could lead to a further decline in price. In the past seven days, XRP has seen a slight increase of 1.3% and is currently hovering around $0.29. The bulls need to keep the momentum going and break above the current resistance in order to be able to push the price to the next major resistance at $0.32.
Cardano (ADA) has been on a tear lately, with the price increasing by 8.2% over the past seven days. The bulls are currently targeting the $0.45 resistance, which is a key level to break. If they manage to break above it, the price could surge to the next major resistance at $0.50. On the downside, the key support for ADA is currently sitting at $0.40, and any breach below it could lead to a further decline in price.
Litecoin (LTC) is up by just 0.4% over the past seven days, with the price currently hovering around $138. The key support for LTC is currently sitting at $130 and any breach below it could lead to a further decline in price. On the upside, the bulls need to break above the $140 resistance in order to be able to push the price to the next major resistance at $145.
Finally, Solana (SOL) has been on a tear lately, with the price increasing by 12.5% over the past seven days. The bulls are currently targeting the key resistance at $18, which is a key level to break. If they manage to break above it, the price could surge to the next major resistance at $20. On the downside, the key support for SOL is currently sitting at $17, and any breach below it could lead to a further decline in price.