This week, we take a closer look at ethereum, Ripple, Cardano, Binance Coin, and Solana.
ethereum (eth)
Since last week, ethereum price has been hovering near the key resistance at $2,400. Buyers are still trying to reclaim that level as support, but they lack momentum at the moment, so the asset has not moved much since our last update.
Sellers remain in control of the price at the time of writing. However, they failed to create a lower low last week, which gives hope that bulls will eventually push ethereum higher.
Looking ahead, eth needs to break the current resistance in the coming days if it wants to stop this downtrend. The alternative is a quick drop to the next support levels at $2,100 and $1,800.
- TradingView Chart
Ripple (XRP)
Surprisingly, XRP had a good week and closed with a 6% price increase. It also managed to flip the $0.54 level into support. This gives the bulls the upper hand and shows that the market may be eager to move higher again.
The current resistance lies at $0.68 and could be retested if the buying momentum continues. Over the past week, buyers have dominated in terms of volume on six out of seven days. This shows that the demand for this cryptocurrency is strong.
Looking ahead, XRP could soon surpass $0.6 and aim to reach the current resistance. A pullback is likely if that level is reached.
- TradingView Chart
Cardano (ADA)
ADA had a great week and closed it with an 11% price increase. This is a refreshing change after a long downtrend that lasted since March. However, the price needs to make a higher high to confirm that the worst is behind us.
Until the price breaks above $0.4, it is too early to say whether the downtrend is over. The current price action is promising and the first test will be at the $0.47 resistance. If the bulls manage to break above that level, then there is a good chance of ADA making a higher high.
Looking ahead, optimism around this asset is increasing and buyers seem to be returning after dominating last week. Keep a close eye on the $0.37 resistance in the coming days as it will be decisive in determining where ADA heads next.
- TradingView Chart
Binance Coin (BNB)
Binance Coin continues to show resilience and has managed to successfully defend the $500 support for the third time. This is impressive and a sign of strength. Buyers are back and the price closed the week up 8%.
Hopefully, this will be the last test of this key support and BNB will be able to seek higher levels. Current targets are located at $600 and $700, which will likely attract sellers and profit-taking if reached.
Looking ahead, BNB is well positioned to return to an uptrend and perhaps even target the current all-time high of $721 by the end of this year.
- TradingView Chart
Solana (SOL)
This week, Solana attempted to break the resistance at $134 but failed to do so, which is holding back the price. Nevertheless, the asset managed to record a 5% price increase, which shows potential.
Buyers seem hesitant and this price action looks similar to ethereum, which is also struggling to break above key resistance. If the broader market turns bullish, Solana is likely to break above its current resistance and return to an uptrend.
Looking ahead, Solana needs to flip the $134 resistance into support to see the price target the next key target of $164.
- TradingView Chart
Cryptocurrency Price Analysis September 13: eth, XRP, ADA, BNB, and SOL appeared first on CryptoPotato.
