BlocksInform
High up, the price has shut down the downward trend and provides an excellent basis for higher valuation in the coming weeks.
Ethereum (ETH)
Ethereum, the second-largest cryptocurrency, continued to consolidate this week. There was only a 2.9% increase in the price. That's because eth is locked into a canal between $1,670 and $1,550.
All attempts to reduce these levels have been rejected over the last couple of weeks. While some altcoins were recording two-digit wins (see fantom below), ethereum seems to be on hold. It could also be because the money is in rotation between the various spare parts.
Looking to the future, the eth will eventually detach from this range, and this will set the tone for the rest of the price. The current bias is neutral, and indicators provide mixed signals as well.
Ripple (XRP)
Ripple has lost its bullish momentum and could not push higher in the past week. Because of this, the price is at a point similar to 7 days ago. Nevertheless, xrp bulls defended the 40-cent support and might try another rally later.
The resistance is 44 cents, and with the weekend coming up (characterized by a lower volume), this level is unlikely to be tested. At best, xrp could keep consolidating over the key holder.
Looking into the future, it is more likely that the cryptocurrency will keep moving laterally. Going forward, the cryptocurrency is more likely to continue to travel laterally.
Cardano (ADA)
Cardano managed to slowly move higher this past week and booked a 5.8% price increase. Buyers have requested the 39 cent level as support. It is fragile to any possible sale.
If they remain here, the next key strength levels will be found at 42 and 44 cents. Of great concern to ada holders is the fact that daily indicators, such as rsi and macd, have both reported a downward divergence as the price has increased.
It shows that the uptrend is weakening and that bears could come back at any time. It shows that the upward momentum is weakening and that bears may come back at any time.
Polygon (MATIC)
Polygon had another excellent week, increasing by 8%. If so, the next levels of support of less than 39 cents will end up at $0.36 and $0.34.polygon (matic)polygon had another great week, increasing by 8%. The price was close to $1.3, which is a critical resistance at this time.
The support is at $1, and thus for a long time matic stays above this level, the bias will remain bullish. However, buyers should be careful as this latest push has created a downward divergence on the rsi and macd indicators.
If the volume decreases, a re-test of the key media will be more probable. Last time matic broke over $1, buyers didn't manage to keep price above that key psychological level.
Fantom (FTM)
Fantom is this week’s top performer, booking a 27% increase. Fantom (ftm)fantom is the best performer of the week, registering a rise of 27%. This impressive rebound is part of a resurgence of challenge chips.
Since the beginning of the year, ftm has succeeded in tripling the price from 20 cents to 60 cents.
Support is currently at 50 cents, and whether the bulls keep the pressure on, so ftm has a good chance of continuing its current upward trend towards 70 cents, where sales people can come back (key resistance). There is currently 50 cents of support, and whether the bulls keep the pressure on, so FTM has a good chance of continuing their current rally around 70 cents, where sales people can come back (key resistance).
