After a brief decline on Monday, the ETH price climbed above the USD 2,100 level and consolidated there. XRP and Tron also gained ground but faced resistance near USD 3,800 and USD 3,900. ETH could test USD 288 next. Meanwhile, ADA, DOGE, and BNB could test USD 288 and USD 300, respectively.
ETH climbed above USD 2,100 but struggled near USD 2,200
Ethereum (ETH) is trading higher but it struggled near USD 2200 after a solid upside correction. The price climbed above USD 2,100 before falling back below USD 2,100 and testing the connecting bearish trend line near $2,150. There are several potential support levels below $2,100, but the immediate support is near the $2,100 level. In addition, the next major support level is around the $2,000 region. It is a risky downside break below that level, so it’s important to monitor ETH’s price action. A break below USD 2,200 would likely test the USD 1,850 support zone.
Ethereum price is currently holding gains above the USD $2,100 support zone, flirting with the $2,150 level. However, there is still a major resistance level near USD 2,200, which might prevent a higher breakout. If the USD 2,200 barrier can’t be cleared, Ethereum could correct lower and reach USD 2,100 as a support level. If this happens, the next major support level is near USD 2,125, which is near the 100 hourly SMA and the trend line.
XRP climbed above USD 3,700 but is facing resistance near USD 3,800
XRP is trading near the key level of 0.252 USD after climbing by 4.5% in the last 24 hours. As Bitcoin continues its ascent above 12,000 USD, XRP is being left behind. Despite the recent price rally, XRP is struggling to close above a key resistance level near USD 3,800. If it can break through this level, XRP could gain a significant 15%.
On a daily chart, XRP is trading above the USD 3,700 level. It has topped out the USD 3,750 level and is now facing major resistance near USD 3,800. On the upside, it might test USD 3,650. If the price does break through the $ 3,760 level, it could test the previous key support level near USD 3,550. If it breaks through the USD 3,650 level, it could reach USD 3,800. In addition, the next major support level is near the USD 3,720 level.
Tron climbed above USD 3,800 but is facing resistance near USD 3,900
After a recent rally, Tron is now facing resistance near USD 3,900, but a break above this level could give the currency a bullish boost. The current 50% Fib retracement level and connecting bullish trend line are at $3,850 and $3,875 respectively, so a breakout above these levels could mean further gains for the cryptocurrency. As of writing, the price is trading near the $3,800 level.
Technical indicators and order books point to strong resistance near $3,900, while the price has climbed above the USD 3,800 support level. Although the price is higher than the 125-day moving average, the short-term 100 Simple Moving Average is well below the long-term 200 SMA, which indicates that the bearish trend may be far from over. The Stochastic oscillator, however, suggests that this uptrend will fizzle out in the near term.