Outside Source
This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.
Ethereum (ETH)
The market turned bearish and Ethereum has lost its support at $2,400, falling by 21% in the past seven days. This market-wide drop impacted almost all cryptocurrencies with most in double digit losses in the past week.
In the case of ETH, it is critical that the price remains above $2,000 as a key psychological level. If lost, then Ethereum will have good support around $1,800, a level not seen since 2023 when crypto was in a bear market.
Looking ahead, Ethereum is quickly approaching a moment where its bullish uptrend is invalidated. A price under $2,000 would push it in a bear market with lower levels likely after that.
Ripple (XRP)
XRP did its best to remain bullish, but the overall market pushed its price back to $2 at the time of this post. While this support level appears strong, continued selling would eventually break it and that could quickly see the price fall much lower.
This cryptocurrency also had a difficult week, closing it with a 23% loss. If nothing changes in the coming days, then the next key support level is found at $1.6.
Looking ahead, if the price falls under $2, then the rally is over, and the top was likely already made at $3.4 back in January 2025. While it is still early to call it, the signs remain bearish based on this price action.
Cardano (ADA)
ADA lost its key support at $0.64 and closes the week with a 25% price drop. This is extremely concerning since the price could fall to $0.45 next. Such a price would return ADA to bear market levels.
Sellers are dominating, and if buyers don’t return soon to bring ADA back above $0.64, then lower price levels should be expected as the downtrend continues.
Looking ahead, ADA does not have the power to stop sellers at this time. Watch the key support at $0.45 since that level could bring back buyers if they don’t show up earlier.
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Binance Coin (BNB)
Binance Coin tried to stay above $600, but buyers were unable to defend that level after a massive sell pressure in the past 24h. With this support lost, the asset fell by 12% in the past week.
If BNB continues to go lower, buyers could reappear between $550 and $500. Strong support at $500 has held well in the past when sellers spiked the price.
Looking ahead, this cryptocurrency shows more strength than most altcoins, considering it has not made a lower low yet. The price consolidates into a flat range above $500, and as long as that level holds, BNB can recover later.
Solana (SOL)
Solana had one of its worst weeks since 2024. The price appears in a free fall and registered a 27% loss in the past seven days. With the support at $134 gone, SOL may soon approach $100 at this rate.
It is critical to maintain a three-digit price since this is a psychological level. At the same time, any price closing on $100 is likely to attract new buyers since that level is also a key support.
Looking ahead, Solana must do its best to not drop under $100 as that would put an end to its uptrend. The next few days and weeks are decisive.
This article first appeared at CryptoPotato
