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The cryptocurrency market has currently drifted into the severe red zone and There’s been a significant drop in altcoins, especially with Ethereum, XRP, ADA and others seeing massive liquidations in minutes. A staggering $2 billion worth of liquidations have happened within 24 hours.
Ethereum Price Analysis:
Ethereum’s price has dropped below key support zones, including the $2500-$3,000 range. This has triggered concerns over a potential bearish trend as lower highs and lows continue to form. While a daily candle close beneath these levels is still needed to confirm a bearish trend, Ethereum’s outlook remains cautious with resistance at higher levels around $3,430 to $3,560.
Solana Price Prediction:
Solana has been following the same downward trend as Bitcoin and Ethereum. It recently broke below an important support level around $220–$225. Furthermore, breaking below $220 has led to a drop to $200–$190. The next support could be around $177–$180. Now, the old support zone between $220–$225 will likely act as resistance. Overall, the price is still in a bearish trend, and things aren’t looking great for Solana in the short term.
XRP Price Prediction:
XRP is also showing a bearish trend, similar to Bitcoin and Ethereum. It has broken below the support around $2.60–$2.70, where the price bounced before. If it closes below this level, it could see XRP fall to around $2.33–$2.26 next.
The RSI on the 4-hour chart is getting close to oversold territory, which could signal that the price might be ready for a short-term bounce. But, it’s not guaranteed. This just means XRP could see some relief soon before it potentially continues to fall later on.
ADA Price Prediction:
Cardano’s price is facing strong resistance above the $1 level. It has been struggling to break through this level for months. The price has now dropped below key support around $0.72 to $0.73. If the price falls further, it might drop to $0.60, with a potential 25% decrease.