What to expect from the XRP 50 EMA breakout? Is Ethereum finally back? Cardano (ADA) is not available

XRP recently easily surpassed its 50-day exponential moving average. This acts as a deciding line between bullish and bearish areas, and XRP jumping over it is a strong signal in itself.

XRP price is currently comfortably above the 50 EMA and is eyeing the next resistance level at $0.64. Current trading momentum suggests that XRP is well-positioned to challenge and potentially surpass this resistance if the overall market maintains its upward trend. The local peak, or the highest point the price recently reached, is at $0.74, and traders could set their sights there if the $0.64 barrier is broken.

However, while the overall market continues to gain momentum, XRP may not be able to muster enough strength on its own to catch up with the pack. Its performance has been somewhat mixed, and despite technical signals, there remains some caution among investors.

Maintaining a stance above the 50 EMA, which has been surpassed relatively easily, will be crucial for continued growth. The strength of this move is clear, but it is important to maintain this level to reap further profits.

If the general market trend remains positive and XRP breaks above the EMA, it is very likely to aim for the local top at $0.74. If it breaks through this level, there is a possibility that it will set a new high for this year. However, it is important to note that XRP's trajectory is not only determined by market sentiment, but also by XRP's unique position in the financial ecosystem, which can cause its price to fluctuate independently of market trends. It is important.

Ethereum is back in the game

Is Ethereum gearing up for a rally that will see its value cross the $3,700 threshold and pave the way to $4,000? The company's comeback was completely unexpected given the relatively weak performance of the second-largest asset on the market.

Currently, Ethereum is showing signs of entering breakthrough mode and is trading in a promising phase. Technical analysis on the price chart shows that Ethereum is testing the key level of $3,700. This price acts as a gatekeeper and above it could indicate a strong uptrend. If the company succeeds in breaking through this level, it will solidify investor confidence and could further accelerate the stock price rise.

The next major resistance level will be at $3,700. If Ethereum breaks above this mark, it could encounter some friction around $4,000, which represents both a psychological ceiling and a technical resistance level.

Cardano paints candlestick patterns

The ADA token recently exhibited a reversal pattern known as the bearish Harami. This pattern suggests that ADA's recent price hike attempts may be losing momentum, suggesting a possible reversal.

This reversal occurred shortly after ADA was able to break through an important level, indicating the market's reluctance to allow the price to rise further. Currently, the ADA appears to be in a delicate position with the potential for decline. It is clear that there is a lack of bullish momentum as the cryptocurrency community does not see enough positive signals to push the price of ADA higher.

But Cardano's fate is not solely in its own hands. It is intertwined with broader market movements. If general market sentiment changes positively, ADA may be able to find the support it needs to reverse its fortunes and begin an upward trajectory.

From a technical perspective, ADA is currently facing resistance near $0.64. ADA price could test this level again if the market provides enough support. On the downside, the notable support level is around $0.5946, a break below which could lead to further decline towards the stronger support zone at $0.5257, which coincides with the 200-day moving average.

About the author

Armand Sirignan