This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Chainlink.
This week is ending with good news for Ethereum investors. The price has reclaimed its place within the ascending triangle and booked a 4.8% gain in the past seven days.
It was critical for ETH to get back into this formation as staying below it could have triggered a wave of selling pressure until the key support at $1,440. Fortunately, bulls came to the rescue, and now ETH is testing if it can push above the key resistance at $1,660.
Looking ahead, ETH has seemingly put a stop to the downtrend, at least temporarily. If buyers break the current resistance then this cryptocurrency could return on an uptrend and aim for $1,800 next.
XRP exploded today and is well on its way to reach the key resistance at 57 cents after booking a 7% increase this week.
This latest price action shows that buyers are back and may dominate in the next few days. Prior to this, volatility has been rather flat with little momentum.
The key levels of the current range have remained unchanged with support at 47 cents and resistance at 57 cents. Looking ahead, this cryptocurrency may attempt to break the key resistance next.