This week provides an interesting snapshot of popular cryptocurrencies like Ethereum (ETH), Ripple (XRP), Cardano (ADA), Binance Coin (BNB), and Solana (SOL) as we analyze their latest price movements.
Ethereum (ETH) experienced a rally that hit a roadblock in December, as quickly returning sellers halted its surge when it passed the $4,000 mark. Following this, the cryptocurrency faced a significant dip, plunging to $3,100. Fortunately, support established around $3,300 has held strong so far. Currently, buyers are attempting to push the price higher, albeit with low trading volume. If this momentum continues, ETH could set its sights on $3,700 next. A crucial question looms: Will this point bring back sellers? If it holds steady, the next resistance to watch is the $4,000 level. For ETH to establish new records by 2025, converting $4,000 into reliable support is essential, especially with the all-time high (ATH) sitting at $4,868.
Moving on to Ripple (XRP), after a brief pullback beneath $2, the cryptocurrency has made a spirited comeback, sitting around $2.4 at present. Buyers appear eager to charge ahead, with $3 being a pivotal target for future gains. The $2 support has been confirmed, rekindling bullish momentum which may pave the way for a higher peak down the line. Should XRP manage to break through $3.3, it would mark a significant milestone, opening the door to an exploration of price levels like $4 and beyond. Until then, establishing $3 as solid support is paramount.
Turning our attention to Cardano (ADA), the digital asset faced resistance at $1.3, leading to a correction that saw it find solid support at 85 cents. After hitting that level, buyers came back in, managing to push the price above $1. The key resistance remains at $1.3, which, if broken, could lead buyers to chase after $2 as their next major aim. Notably, Cardano enjoyed a spectacular rally in November 2024, soaring 300%. There’s optimism that a new surge could be on the horizon in early 2025, potentially leading to fresh highs.
Next up, Binance Coin (BNB) continues to captivate the market. After achieving a record price of $794 in early December, the positive momentum persists. Currently, $691 is acting as support, and if it holds, BNB might very well be eyeing another ATH by 2025. The most significant resistance remains the previous record of $794, which could attract sellers once again. If the broader market maintains its upward trend, BNB has a reasonable shot at surpassing this resistance and continuing its ascent. A leap to $1,000 in 2025 appears feasible, requiring just a 40% rise from here.
Lastly, we look at Solana (SOL). After a sharp decline to $175 in late December 2024, buyers returned, successfully elevating the price above $200 this week. Currently testing the $206 level as support, if it holds, SOL could be on the path to higher price points. Resistance levels of $240 and $260 loom ahead, where sellers have historically emerged swiftly. A decisive breakthrough above $260 is crucial for Solana to pursue new price records in the future. While it’s early to draw conclusions, the bullish sentiment is palpable, especially as SOL approaches these critical resistance points.
In the exciting and dynamic world of cryptocurrency, these assets are optimizing buyer interest and revealing potential future trajectories. Whether you’re actively trading or simply observing, it’s best to stay informed for the next possible opportunities.
SPECIAL OFFER (Sponsored)
Take advantage of Binance’s exclusive welcome offer to receive $600 when you register through this link!
LIMITED OFFER for CryptoPotato readers at Bybit:
Open a $500 FREE position on any coin by registering via this link!
Disclaimer: The information presented here reflects the views of the authors cited and does not necessarily align with the opinions of CryptoPotato regarding buying, selling, or holding investments. Always conduct your research before making investment choices. Use the provided insights at your own risk.
