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.
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
