ETH at Crossroads, XRP Nears Breakout, SOL Hits Wall

XRP is stuck in a horizontal price movement, struggling to break above market resistance. Solana is arriving at a level of $175. Ethereum is also facing a similar obstacle at $3150.

eth, crabmarket — ETH at Crossroads, XRP Nears Breakout, SOL Hits Wall 2

XRP is stuck in a sideways crab market (a horizontal price movement), struggling to break above market resistance. Solana is arriving at a crucial resistance level of $175, facing it can push the price towards $200. Ethereum is facing a similar obstacle at $3150, a critical point to potentially reach higher prices.

XRP Joins Crabmarket?

XRP’s price has moved around the same value( $0.50) for some time. XRP tried increasing itself to $0.54 but stalled. This up-and-down horizontal price movement is known as the crab market.

Price chart from EMAs ( Exponential moving average) a technical indicator for trading seems to be stopping XRP’s Uptrend.

Following this, investors are being skeptical about selling and buying XRP tokens which is typical for a crab market. For XRP to overcome this obstacle it needs new active investors.

Solana Holds Ground

Solana is facing a hurdle at $175. Solana had stopped at this price in the past too. Solana’s EMA (exponential moving average), a technical indicator used in trading, is also stuck at this price. This has made this price hurdle more difficult to overcome for Solana .

Solana can break this resistance by pushing up prices toward $200 after several attempts. Thus, the bulls are desperately trying to push the prices high for Solana Alt coins.

More investors are also trading Solana lately, indicating a good sign. This trading activity may indicate a financially influenced price increase and need for a strong buying of Solana.

Ethereum’s falling Behind?

Ethereum is not having a fantastic year in 2024. Ethereum has fallen behind Bitcoin causing sadness among investors. Right now its price is stable at $3,150, a critical point. The last time Ethereum gained this price, it had dropped down to $2,900 quickly.

Ethereum is a runner right now, trying to sprint past the current price value. Investors are optimistic about Ethereum pushing through the expected price this time.

Crypto market is a volatile place with prices going up and down. Investor should their own research before buying or selling crypto currencies.

Also Read: XRP Token’s Dump Below $0.50

Abhishek Singh

Disclaimer

The content presented here may express the author’s personal opinions and is subject to change based on market conditions. It is crucial to conduct your own market research before investing in any cryptocurrency. Neither the author nor this publication assumes any responsibility for any financial losses you may incur.