ETH, XRP, ADA, OP and PEPE

ETH, XRP, ADA, OP and PEPE

This week we take a closer look at Ethereum, Ripplecardano, Optimism and Pepe.

Ethereum (ETH)

The market leaders stagnated last week and ETH recorded a modest price increase of 2.6 %. The volatility has remained low and the price is still below the important resistance at $ 1,820

The PA and Momentum indicators show the indecisiveness of the market participants. In view of the falling volume, both bulls and bears seem to have disappeared from the market. There is no conviction on both sides and the price has not moved decisively. The current support is $ 1,660

With a view to the future, it seems that this consolidation could continue under the key resistance. It seems unlikely that sellers will try to test the important level of support because the market is waiting for a trigger that brings the volatility back.

Diagram of TradingView

ripple (XRP)

XRP rose by 8.5 %last week, and the price has now reached the resistance of 47 cents. This impressive rally is atypical when you consider that ETH and BTC did not put any rally this week.

Thanks to this renewed interest of the buyers, the momentum indicators for this cryptocurrency have become bullish. The bulls currently dominate with a decent volume on the way up and five consecutive day candles that close in the green area.

With a view to the future, sellers could take a stand in the important resistance and stop them upwards for a while. If there is a decline, XRP has a good support at 44 cents that could be tested before the next climb.

cardano (ada)

In the past week, Ada failed to break the important resistance at 38 cents, but was still able to record a modest price increase of 2.8 %. At the time of this article, the price between 36 and 38 cents seems to decrease, and there could soon be a decisive movement.

The highest support level is 34 cents. It is unlikely that this level will be tested when you consider that buyers were apparently eager to buy this cryptocurrency when she had a decline. However, the bulls have so far been unable to break through the important resistance.

look ahead Cardano could prepare for a large outbreak, similar to XRP, which could lead to the 38 cent resistance falls quickly, but it remains to be seen whether this will be the case.

Diagram of Tradingview

optimism (op)

Optimism had a volatile week and was able to record a price increase of almost 10 %, which led it to $ 1.8 until the important resistance. This achievement came about after the bulls found a good support at $ 1.6.

Since reaching the key resistance, the price has entered a pullback. This could cause OP to test the important support again if buyers are not willing to return soon. Nevertheless, this price movement has put an end to a large downward trend that started in April.

With a view to the future, Optimism seems to be well positioned in order to try a outbreak of $ 1.8 and to strive for a higher rating. If successful, the next big goal will be $ 2, which is also an important psychological level.

Diagram of Tradingview

pepe (pepe)

After Pepe found a good support at $ 0.0000011, he managed to get strongly in a short time and record a price increase of 24 % compared to last Friday. In the meantime, however, the price corrects and the buyers show a lack of interest.

The dynamics in the 4-hour time frame seem to be bearish at the time of this article, since the MacD has carried out a bear-cross cross. This indicates that the price could continue to fall until the buyers return.

With a view to the future, Pepe will continue to have great volatility that many old coins cannot be observed. This attracts dealers who are probably always active when the price reaches a critical level, for example the important support. The current resistance is $ 0.0000018.

Diagram of TradingView.