ETH Hits Critical Price, XRP Nears $0.40, SOL’s $150 Streak Ends?

Ethereum (ETH) has reached a critical price level, sparking concerns among investors. The cryptocurrency has started losing momentum against Bitcoin, specifically falling below the important 0.4 BTC ratio for the first time in over three years. This critical price point raises the probability of Ethereum’s further decline as current charts lack solid support levels, making the situation quite precarious.

Currently, the Ethereum market remains under significant pressure. Although there’s potential for forming a higher low, which could hint at support, this isn’t sufficient for triggering a rally or bull run anytime soon. With Ethereum’s price lingering around the $2,300 range, investors are apprehensive due to its volatile price structure. As this breakdown unfolds, three essential price levels need close monitoring.

The first level to watch is $2,100, which could act as short-term support. Failing to sustain this level may increase Ethereum’s selling pressure.

Next, the $1,800 mark is crucial. Historically, Ethereum has bounced back from this critical support area. Losing this level could accelerate the downward momentum.

Finally, the $1,500 level, not tested since early 2021, is the last major support. A revisit would imply a deeper market correction and signify a worrying state of affairs for Ethereum.

In summary, Ethereum’s position remains unstable due to insufficient support and possible intensifying bearish pressure. Investors should keep a watchful eye on these crucial levels and any signs of a potential market reversal.

XRP Faces Strong Rejection

XRP has once again faced rejection at the $0.59 resistance level, highlighting its ongoing struggles. This resistance reaffirms the descending part of the symmetrical triangle, indicating that XRP bulls were unable to breach the $0.60 zone.

Failing to break above the upper trendline might suggest an impending retrace for XRP. The symmetrical triangle pattern has been pivotal for XRP in recent months, with both bulls and bears competing for dominance. Following the recent rejection, testing the triangle’s lower boundary seems more likely. The $0.55 level could provide support, signaling a possible reversal.

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Should the price fall further, the $0.52 region becomes the next critical zone:

In a bearish scenario, failure to hold support at $0.55 or $0.52 could prompt a descent towards the psychological $0.50 level, attracting additional sellers.

Conversely, finding support at the symmetrical triangle’s lower border could ignite a bounce. Bulls might aim for another push to the $0.59 resistance, potentially rallying towards $0.65 if XRP breaks and closes above the descending trendline, indicating bullish continuation.

Solana Hits Resistance

Solana’s (SOL) recent attempt to reclaim the $150 price target has met with resistance. The upward momentum faced skepticism as it failed to surpass the 200-day exponential moving average (200 EMA).

The 200 EMA, a significant long-term trend indicator, has become a major resistance level. Solana’s current trading at $131 reveals that bulls couldn’t generate enough strength to break through the key resistance zone of $145 to $150. Without a major catalyst to reignite the rally, Solana’s bullish phase may be stalling.

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Key support levels to monitor include the $125 threshold. A breakdown below $125 might indicate mounting selling pressure, potentially triggering further declines.

Should this support fail, the next level to watch is around $115. Breaking below this could confirm a deeper retreat.

For resistance, the $145-$150 range remains a critical area. If Solana breaks above this, it could target the $160-$170 region. Additionally, reclaiming the 100 EMA at $139 could re-establish bullish momentum, although the rally remains vulnerable until $150 is surpassed.

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