When we look at the crypto market in general, we see that many assets are on the rise.
Although Bitcoin, which rose above the level of $ 26,000 yesterday, is at $ 24,900 today, the assets continue their upward movement. In this article, we will examine the price analysis of ETH, XRP and ADA together with you.
Ethereum (ETH)
The leading altcoin Ethereum broke above the $1,700 resistance with the rises it experienced. Ethereum, which has been up 1.89% in the last 24 hours, could correct a minor correction and test the $1,650 support zone before continuing on its way. After a massive increase above the $1,600 resistance zone, Ethereum price even managed to surpass the $1,700 key resistance zone to move into the positive zone similar to Bitcoin. The price climbed above the $1,740 resistance in the last 24-hour period and traded close to $1,800. A high was formed in the $1,784 region before correcting to the downside. After a sharp decline below the $1,700 level, Ethereum dropped to $1,666.
Ethereum price is now trading above $1,650 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $1,690 on the hourly chart of ETH/USD. On the upside, the price might face resistance near the $1,725 zone. The area of the recent decline from the $1,784 high to $1,666 low is near the 50% Fib retracement level. The first major resistance is near the $1,740 and $1,750 zones. The next major resistance is near the $1,800 level. A close above the $1,800 resistance zone could start another rise.
If Ethereum fails to break the $1,740 resistance, it could start another decline. An initial support on the downside is near the $1,690 level and the trend line. The next major support is near the $1,650 area. If there is a break below $1,650, the price could drop as low as $1,600. Any more losses may require the asset to test the $1,550 level.
Cardano (ADA)
The ongoing recovery rally in Cardano price remains in the 35 cent region. The daily chart on March 14 shows that buyers were unable to break through the 35 cent mark with a long-term price rejection. This shows that investors are selling during price increases. With the increasing rise in the crypto market, Cardano has recovered from the psychological support of 30 cents. The uptrend, supported by the increasing volume, drove the Cardano price up by 18.45% and reached the resistance of 35 cents. The price was able to break this resistance later, but the daily candle closed below this level.
If Cardano encounters more selling pressure at the 25 cent level in the coming days, the price is likely to break down and retest the 32 cents and 30 cents levels. Conversely, if investors try to prolong the recovery phase and the price closes above 35 cents per day, then the asset may continue to rise. While the important resistance points we need to follow for Cardano price are around 35 cents and 37 cents, the support levels to be followed in case of a decline are around 32 cents and 30 cents.
Ripple (XRP)
Having a mixed start to the day, XRP continues to be priced at 37 cents with an increase of 0.68% in the last 24 hours. XRP price must surpass the 37 cent pivot to target the first resistance level of 38.56 cents and Tuesday’s high of 38.80 cents. A return to the 38 cent zone would indicate a bullish session. In the case of an extended rally, XRP will likely test the second level of resistance in the 39 cents or 40 cents region. The third resistance level of the asset is located in the 41 cent region.
Failure to move along the pivot will leave the first major support level in the 36 cents region. However, in case of possible selling pressure, the asset should avoid below 36 cents and 35 cents. The third support level to follow for XRP is at 33 cents.
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