Crypto price analysis Jan-06: ETH, XRP, ADA, LTC and Sol
Crypto price analysis Jan-06: ETH, XRP, ADA, LTC and Sol
This week we take a closer look at Ethereum, Ripplecardano, Litecoin and Solana
Ethereum (ETH)
This Wednesday the bulls took over the price movement and pressed ETH until the most important resistance at $ 1,260. Since then, the price no longer seemed to be able to break through. Nevertheless, Ethereum has had an increase of 3.8 % in the past seven days.
The fact that the price has withdrawn from this youngest rally in the past two days indicates that the sellers are currently exhausted or are not interested. This could develop into a key chance for the bulls.
With a view to the future, ETH gives good signals that buyers have control with higher lows and higher highs in the price movement. If you maintain the dynamics, the next critical brand is $ 1,365
diagram of tradingview
ripple (XRP)
In contrast to Ethereum,after a significant decline on Monday, when the price reached 30 cents, the price reached 30 cents. This has led to a decline of around 2.2 %in the past seven days.
This week the volume in red and seller dominated the diagram. This currently gives little hope of a turnaround, especially if the important support is under pressure again at 33 cents. In view of this price movement, a breakthrough downwards seems quite likely.
Since the increase on Monday could be an indication of the upcoming things, it is very likely that XRP will have to check the 30-cent support again before it can hope to reverse the current downward trend. The buyers do not seem to be confident of stopping this sales pressure.
cardano (ada)
Cardano surprised the market this week with a strong performance, in which the price rose by 11.4 %. This dynamic could stop, but the key resistance at 30 cents will be an important obstacle that needs to be overcome.
After ADA found good support at 24 cents, he managed to quickly compensate for some of the latest losses and continued to rise every day. The volume and the indicators support a continuation of this price campaign, but it is important to see how the buyers will handle the above -mentioned resistance level.
With a view to the future, a test of $ 0.30 seems likely.
litecoins (LTC)
ltc is one of the oldest old coins on the market and was introduced in 2011. Although it may not be conspicuous or new, her price campaign has been quite impressive lately. Litecoin has managed to move upwards since June 2022. This is something that only a few old coins have achieved during this Baisse.
Somehow Litecoin completed the last week with a price increase of almost 10 % after it had increased again over $ 70. The bulls seem to be very interested in driving this cryptocurrency upwards, and they could even challenge the key resistance at $ 80.
With a view to the future, LTC is one of the few cryptocurrencies that are well positioned to achieve higher maximum. At the moment the biggest challenge is to break over $ 80. Perhaps this second attempt can be successful, which could bring cryptocurrency on the way towards $ 100.
Solana (sol)
The course movement of Solana in the last 30 days can only be referred to as a crypto-achterbahn ride. After falling under $ 10, he recovered quickly and entered a clear rally on Monday, when the price rose higher, and completed the last seven days with an increase of 37 %. This week he is the most powerful altcoin on our list.
After Solana found a great support at $ 9.5, he entered a persistent rally that did not stop up to $ 14. The main resistance is $ 15, and it would be even more surprising if he would break through this level in view of his performance this week.
With a view to the future, a test of the key resistance will probably appear. But the overall market must become bullish or at least remain neutral. Otherwise Solana could be pulled down to $ 10.
The article Crypto Price Analysis Jan-06: ETH, XRP, ADA, LTC and SOL first appeared on Cryptopotato.
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