Crypto price analysis-May 26: ETH, XRP, ADA, TRX and LTC
Crypto price analysis-May 26: ETH, XRP, ADA, TRX and LTC
This week we take a closer look at Ethereum, Ripplecardano, Tron and Litecoin.
Ethereum (ETH)
Ethereum's volatility increased last week, but he failed to break through the important resistance at $ 1,820. For this reason, the price is at a similar level as last week.
It is unlikely that this consolidation will be permanent below the important resistance, and the bulls seem to be striving to break away from it. On Tuesday, the buyers let the price increase briefly over the key level, but the sellers were able to quickly reverse the price movement below $ 1,820.
With a view to the future, Bullen ETH could help again next week to a new rally and convert the current resistance into support. If successful, this cryptocurrency will become bullish and next will increase to $ 1,900 and $ 2,000.
diagram of tradingview
ripple (XRP)
XRP met with 47 cents to strong resistance and could not rise any further. This pressed the price down, but was at a similar level as last week. Despite the decline, buyers are still interested in this cryptocurrency.
With good support at 44 cents, bulls could try another outbreak in the coming days, especially if market leaders like ETH also manage to climb up.
With a view to the future, it seems more likely that XRP will soon increase higher, with the next big resistance being 50 cents. Despite a short break, the momentum indicators remain bullish.
Diagram by Tradingview
cardano (ada)
Cardano is the opposite compared to XRP. The price is in a downward trend and fell 3 % last week. The most important support is 34 cents, and the price could test this important level in the coming week.
The resistance at 38 cents did not allow Ada to climb up. Instead, the price fell and reached lower highs. Today the MacD has done a declining crossover, which indicates that this downward trend will continue.
look ahead cardano is in a difficult location. The declining dynamic seems to be reinforced and a recovery rally seems unlikely until the price finds solid support.
Diagram by Tradingview
tron (trx)
While most old coins have difficulties, Tron is our best performer this week after he recorded an impressive price increase of 9.5 %. This rally brought him just below the resistance at 8 cents. The key support is 7 cents.
The MACD and RSI indicators signal a bullish tendency that favors a continuation of this price movement. Tron also completed five days in the green last week, which shows that buyers have the upper hand.
With a view to the future, Trx is well positioned to continue his rally. Nevertheless, sellers could return to take a position at the resistance of 8 cents and not allow the price to continue to increase when the first break is attempted.
litecoin (ltc)
litecoin has difficulty gaining foothold after having not succeeded for several months to break through. Every time the price rose over $ 100, the sellers quickly stopped. In addition, the current resistance is $ 95, and the bears rejected the price at this key level. This means that LTC completes a week with a loss of 5 %.
The dynamics are flat and the price seems to be able to develop a clear trend. This long consolidation phase began in early 2023 and can continue for some time. Until the price converts the $ 100 mark into support, it is unlikely that LTC will increase higher.
With a view to the future, the current support is $ 80, and the sellers may not be satisfied until this cryptocurrency reaches this level in order to stop their pressure. At this point the price could recover and continue its consolidation.
The contribution crypto price analysis of May 26: ETH, XRP, ADA, TRX and LTC first appeared on Cryptopotato.
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