Could Ethereum (ETH) fall below $4,000? Was Solana’s surge to $170 a fakeout? Meanwhile, XRP remains stable at around $0.52.
Ethereum has been struggling to break the $4,000 mark, showing a pattern of consolidation within a narrowing range. The key levels to watch are $3,900 as resistance and $3,626 as support. The lack of strong buying pressure has resulted in lower trading volumes. The Relative Strength Index (RSI) currently indicates a neutral market sentiment. If Ethereum breaks below the $3,626 support level, it could drop towards the 50-day moving average at $3,298. However, a breakthrough above $3,900 could propel ETH back towards and beyond $4,000.
Solana has been steadily climbing towards $170 and may continue to rise. The support levels to monitor are $165.84 and $156.52, while the key resistance level remains at $170. If SOL maintains support above $165.84, it could attempt another push towards $170. Conversely, if it closes below $156.52, a bearish trend might be indicated, potentially leading to a decline towards $150 or lower.
On the other hand, XRP has demonstrated remarkable stability, consistently trading around $0.52. The $0.50 support level has held well, while the resistance levels to keep an eye on are approximately $0.55 and $0.57. XRP’s moving averages suggest that the 50-day moving average is acting as support, while the 100-day and 200-day moving averages present resistance levels. With an RSI of 51.89, XRP is neither overbought nor oversold, indicating a relatively stable market. If XRP maintains support above $0.50, it might break the $0.55 resistance level and potentially move up to $0.57 and beyond. However, a drop below $0.50 could signal a bearish trend.