Ethereum Price Nears Major Resistance At $2,200, Why A 13% Crash Could Follow
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. A crypto analyst has predicted that the Ethereum price could be gearing up for an additional 13% crash to new lows. Currently, the cryptocurrency is hovering near the crucial $2,200 resistance, where a rejection could fuel further volatility and trigger a significant decline. Ethereum Price Set For $1,700 Crash In a recent technical analysis published by MadWhale, a TradingView crypto expert, the Ethereum price is projected to experience a severe price breakdown, declining by 13% to reach $1,700. The analyst attributes this bearish outlook to the cryptocurrency’s recent price action and chart patterns. Related Reading MadWhale shared an Ethereum price chart showing that the cryptocurrency is moving within a Descending Channel. This channel is generally a bearish chart pattern formed when two downward-sloping trend lines connect at lower highs and lower lows. It usually indicates a major downtrend, in which sellers dominate the market rather than buyers. Source: MadWhale on Tradingview.com Presently, the Ethereum price is fast approaching a main resistance area at $2,200, situated around the upper boundary of the Descending Channel pattern and marked by the red shaded area on the chart. Historically, when its price reaches this area, it often encounters significant selling pressure that leads to a sharp downward price reversal. MadWhale’s analysis suggests that the cryptocurrency may fail to break this critical resistance area, triggering his predicted decline to $1,700. This target aligns with a strong support area where the cryptocurrency has previously found buying interest. Notably, Ethereum’s volume analysis also indicates fluctuating market participation, with no strong signs of bullish drivers or strong momentum. If volume remains low and selling pressure increases, Ethereum is likely to experience further price declines. Analyst Predicts Three Key Targets For Ethereum Despite the ongoing selling pressure and decline in the Ethereum price, crypto analyst Patron on X (formerly Twitter) remains optimistic about the cryptocurrency’s future outlook. The market expert has predicted three bullish targets for the Ethereum price, believing that it is only a matter of time before its present downtrend dissipates. Related Reading The analyst noted that Ethereum had reached a key support level, where a bounce from this threshold could trigger a surge to his projected targets marked by yellow lines on his price chart. With the Ethereum price trading at $1,989 as of writing, the analyst forecasts that it could reach a first target of $2,296, representing a 15.44% increase. After this surge, Patron predicted that Ethereum would reclaim previous highs and rally to $2,913, marking a 46.46% gain. For his final target, he projects a surge to $4,000, reflecting a 101% jump to a new ATH. Notably, the analyst claims that if Ethereum can reach these bullish targets, it could yield a significant 100% profit for investors. ETH trading at $1,995 on the 1D chart | Source: ETHUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com
XRP Price Breakdown below $2: Analyst Reveals Next Major Support
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Crypto analyst MadWhale has raised the possibility of the XRP price experiencing a breakdown below the crucial $2 support level. The analyst also revealed the next major support if XRP drops below this support level. XRP Price Could Drop To $1.90 If It Loses $2 Support In a TradingView post, MadWhale predicted that the XRP price could drop to the major support at $1.90 if it loses the psychological $2 level. He noted that XRP has demonstrated a classic triple-top formation, with each successive peak showing weaker momentum. In line with this, the analyst asserted that a break below the 42 threshold appears imminent as XRP nears a formidable resistance zone. Related Reading MadWhale further stated that the downward move is expected to extend to at least $1.9, representing an 18% decline. The analyst added that such a price decline aligns with the primary target and a key daily support level. Crypto analyst Ali Martinez had also suggested that XRP could drop to as low as $1.2 if it loses the $2 support. Source: MadWhale on Tradingview The analyst revealed that the XRP price was forming a head-and-shoulders pattern on the weekly chart, which puts the $2 support level in the spotlight. His accompanying chart showed that the crypto could drop to $1.2 if it breaks below $2. However, despite this bearish outlook, other crypto analysts, such as Egrag Crypto, have highlighted some positive aspects of the XRP price. Egrag Crypto stated that the XRP price’s dominance was showing tremendous strength and predicted that if it successfully closed above Fib 0.5, it could soon rally to the Fib 0.888 level. Crypto analyst Dark Defender predicted that XRP could rally to a new all-time high (ATH) if it continues to hold the crucial support levels at $2.04 and $2.22. The Altcoin Still In Waiting Mode Crypto analyst CasiTrades stated that the XRP price is holding strong but is still in waiting mode. She added that the bullish structure remains intact, with the altcoin holding above $2.26, which is the key .382 retracement support. The analyst noted that XRP’s price has spent some time flipping the consolidation to support, indicating that markets are setting up for the next move. Related Reading The crypto analyst revealed the $2.70 and $3.05 resistance levels and $2.25 support level as the key levels to watch. She remarked that the XRP price needs to flip $2.70 and $3.05 to become support for the confirmation of the next wave up. Meanwhile, CasiTrades suggested that XRP risks dropping to as low as $1.54 if it loses the lower support support at $1.90. The crypto analyst also mentioned that the price needs to break above $3.40, its current ATH, to confirm a new trend. Until then, the wait for signs of confirmation continues, which she claimed may not be obvious until wave 3 in the market cycle. CasiTrades asserted that key Fib levels have been breached, and the market is on the edge of a breakout. At the time of writing, the XRP price is trading at around $2.29, down over 2% in the last 24 hours, according to data from CoinMarketCap. XRP trading at $2.29 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Medium, chart from Tradingview.com
Solana Price Crash To $90? Why A 26% Decline Could Rock This Crypto
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Solana price is seemingly on the verge of another major crash, as an analyst forecasts a correction to $90. Given the cryptocurrency’s recent slow momentum due to the ongoing market letdown, an additional 26% decline to new lows could significantly impact the future outlook of Solana. Analyst Forecast Massive SOL Price Crash CoinMarketCap’s data shows that the Solana price has given up most of its yearly gains following its massive 50% price crash earlier last month. Despite this bearish performance, TradingView crypto analyst MadWhale highlights that the pain isn’t over yet, projecting an even deeper price decline for the popular altcoin. Related Reading: Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22? The analyst believes that a 26% drop to $90 may be on the horizon if Solana fails to find proper support. Sharing a detailed price that supports his bearish prediction, MadWhale suggested that the Solana price is currently in a Descending Channel, indicating a sustained downtrend. The chart shows that the altcoin’s price movement is making lower highs and lower lows, confirming its already bearish structure. Moreover, Solana is presently struggling to break above the key resistance area indicated by a straight red line above the $130 threshold. Massive price crash incoming for SOL | Source: MadWhale on Tradingview The curved red arrow in the chart highlights the trajectory to which Solana is expected to move if it fails to surpass resistance levels. The $90 level is also marked as the main monthly support for the altcoin, where a potential bounce back or accumulation is set to arise. If Solana can retest this support level, MadWhale believes it could recover enough to sustain a lengthy upward trend. While Solana’s overall price position and market trend are in the red, the TradingView analyst acknowledges that temporary bullish movements could happen. However, these minor fluctuations would be short-lived, as they are part of the broader downtrend. Notably, MadWhale has marked the $100 mark as a psychological resistance level for the Solana price, where a decline toward this threshold could influence its market sentiment. Solana Market Sentiment Switches To Fear Solana’s market sentiment recently hit 1-year lows, but on-chain data shows an even more volatile trend. The altcoin’s Fear and Greed index at 34 indicates that it may be approaching extreme fear zones. This suggests a potential period of panic-driven sell-offs by investors. Related Reading CoinCodex’s data also highlights that Solana’s overall market trend is significantly bearish. Over the last 30 days, Solana has recorded more red days than green, signaling a prolonged downtrend. As a result of its bearish price action, CoinCodex indicates that now may be a bad time to buy the altcoin. Commenting on Solana’s current market sentiment, crypto analyst Market Prophit notes that the crowd remains bearish on the cryptocurrency. However, smart money stays bullish, fueling hopes of a possible price reversal in the altcoin. SOL trading at $127 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com
XRP Price Can Fall Further To $1.5 If This Level Fails To Hold
Este artículo también está disponible en español. Despite recovering from bearish lows following its recent uptick, a crypto analyst has predicted that the XRP price could undergo a further decline in its price to $1.5. The analyst has pinpointed a critical resistance level that XRP will need to hold lest it crashes to new lows and eradicates recent gains. Analyst Predicts XRP Price Crash To $1.5 TradingView crypto analyst MadWhale has shared a new price analysis focusing on XRP’s future price potential. The analyst emphasized his strong track record of cryptocurrency trends, underscoring that he has accurately identified and hit all the gain targets. Related Reading MadWhale predicts that the XRP price could crash below $1.9 to $1.5. The analyst revealed that XRP is currently in a downtrend and has been making lower highs and lower lows, indicating a bearish structure. According to his price chart, the cryptocurrency is also trading within a descending channel and fast approaching a key resistance level. This critical resistance point at the $2 mark has been tagged as a psychological level where sellers are likely to emerge and trigger further downward pressure on the cryptocurrency. If a rejection occurs at this $2.00 resistance level, MadWhale highlights that the next support area and downside target will be around $1.90, representing a 17.62% value drop. Source: MadWhale on Tradingview If the resistance level fails completely and the $1.90 support level breaks, the TradingView crypto analyst has forecasted another major breakdown in the XRP price. He predicts that the cryptocurrency could experience a more profound decline of 35%, possibly dropping down to the next major support level at $1.5. This crash target aligns with the lower boundary of the descending channel in which XRP currently resides. MadWhale has revealed that the decline to $1.5 could serve as a pivotal point for price stabilization, hinting at a possible reversal in the cryptocurrency once bearish pressures wane. The analyst’s price chart also shows that XRP recently tested the upper boundary of the descending channel but faced a rejection near the resistance. The main daily resistance area for the XRP price is marked in red on the chart, suggesting that $2.6 is where selling pressure might occur. As of this writing, XRP is trading at $2.8, already significantly above MadWhale’s daily resistance area. Trump’s Crypto Reserve Plan Triggers Major XRP Price Surge After experiencing a significant price crash over the past few weeks, the XRP price seems to be recovering at an alarming pace. In just one day, the cryptocurrency saw a double-digit price surge, successfully reversing its previous downtrend. Related Reading Analysts have attributed this unexpected sharp surge to the recent United States (US) crypto reserve plan announced by Donald Trump. The US President had included XRP in his plans for a crypto reserve aimed at boosting the country’s debt strategy and crypto dominance. As news of this strategic plan spread, the XRP price saw a 24.5% increase, pushing its value significantly above the $2.5 threshold once again. XRP trading at $2.6 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com
More Pain Ahead For Solana? Dangerous Price Drop To $125 Looms With This Support Retest
Este artículo también está disponible en español. Crypto analyst MadWhale has suggested that the Solana price could witness more downward pressure in the coming days. Specifically, the analyst predicted that SOL was at risk of a decline to $125 as it retests a key support level. Solana At Risk Of A Drop To $125 With Support Retest In a TradingView post, MadWhale predicted that the Solana price was at risk of dropping to as low as $125 with the retest of the $164 price level, which is a key support level on the horizon. The analyst noted that this is a pivotal support level that has previously proven strong. However, he warned that it might not be the case this time around. Related Reading MadWhale remarked that there are indications that the Solana price may soon breach this daily support, which could trigger a decline of around 25%. Should this price crash happen, the analyst stated that the price target to watch would be $125, which aligns with a key monthly support zone. He added that this area has historically been a critical defense against further downturns, making it a crucial point in the current market analysis. SOL at risking of retesting $125 | Source: MadWhale on Tradingview The analyst’s accompanying chart showed a break below the $125 support level could send the Solana price as low as $80. It is worth mentioning that crypto analyst PizzaDriver also recently warned that SOL could witness a 2022-like crash, with the crypto dropping to double digits. The Solana price has already witnessed a significant crash, having declined over 11% in the last seven days. On-chain analytics platform Santiment recently noted that Solana’s market sentiment has dipped to its lowest since the big retrace on January 20th. Traders expressed frustration as SOL dropped to a 3-month low price of $161. However, the platform provided some optimism regarding the Solana price. Santiment noted that while discussion rates are extremely high and crowd sentiment is bearish, this is historically a signal there is a high bounce probability. A Rebound Is Also On The Cards While MadWhale and PizzaDriver have predicted that the Solana price could crash further, some other analysts have predicted that SOL could rebound from its current level. In an X post, crypto analyst Mr B noted that SOL is slowly recovering after yesterday’s drop to around $160. He added that the crypto bounced perfectly off a daily support level. In line with this, Mr B stated that he expects a healthy rebound to $185, although he warned that if the Solana price doesn’t break above that, it might drop again. On the other hand, if Solana manages to push higher, the analyst predicted that the psychological $200 level could be coming soon. Related Reading At the time of writing, the Solana price is trading at around $172, up over 3% in the last 24 hours, according to data from CoinMarketCap. SOL trading at $174 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com