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This week, we take a closer look at Ethereum, Ripple, Cardano, Tron, and Litecoin.
Ethereum (ETH)
Ethereum’s volatility increased this past week but failed to break the key $1,820 resistance. Because of this the price is at the same level as last week.
This consolidation under key resistance is unlikely to last, and the bulls appear eager to break out. On Tuesday, buyers briefly took the price above the key level, but sellers were quick to pull the price action back below $1,820.
Looking ahead, the bulls could lead ETH to a renewed rally in the coming week and turn the current resistance into support. If successful, this cryptocurrency will turn bullish and rally towards $1,900 and $2,000 next.
Ripple (XRP)
XRP found strong resistance at 47 cents and was unable to continue higher. It took the price down but at the same level as last week. Despite the pullback, buyers have remained interested in this cryptocurrency.
With good support at 44 cents, the bulls may attempt another breakout in the coming days, especially if market leaders like ETH also manage to move higher.
Looking ahead, XRP is likely to move higher soon, with the next major resistance at 50 cents. Despite a brief break in the rally, the momentum indicators also remain bullish.
Cardano (ADA)
Cardano is the exact opposite when compared to XRP. The price is found in a downtrend and fell 3% last week. The key support is at 34 cents, and the price could test this key level in the coming week.
The resistance of 38 cents did not allow ADA to go up. Instead, the price dropped, making a lower high. Today, the MACD made a bearish crossover which indicates that the downtrend will continue.
looking ahead, Cardano finds itself in a difficult position. The bearish momentum seems to be intensifying, and a relief rally looks unlikely until the price finds solid support.
Tron (TRX)
While most altcoins struggle, Tron is our best performer this week after booking an impressive 9.5% price increase. This rally also took it just below the resistance of 8 cents. The main support is at 7 cents.
The MACD and RSI indicators are showing a bullish bias which favors the continuation of this price action. Tron also closed five days in the green last week, indicating that buyers have an upper hand.
Looking ahead, TRX is well positioned to continue its rally. Nevertheless, the sellers may return to form a stand at the resistance of 8 cents and not allow the price to move higher during its first attempt to breakout.
Litecoin (LTC)
Litecoin is struggling to find its footing after failing to reach higher levels for several months. Every time the price moved above $100, sellers were quick to stop it. Moreover, the current resistance is located at $95, and the bears rejected the price at this key level. This means that LTC closes the week at 5% loss.
The momentum is flat, and the price doesn’t seem to be able to develop any clear trend. This long consolidation period started in early 2023 and may still continue for some time. LTC is unlikely to move higher unless the price turns the $100 level into support.
Looking ahead, the current support is at $80, and sellers cannot be satisfied until this crypto reaches this level to stop their pressure. At that point, the price may bounce back to continue its consolidation.
The post Crypto Price Analysis May-26: ETH, XRP, ADA, TRX and LTC appeared first on CryptoPotato.
