Crypto Price Analysis: ETH, XRP, ADA, TRX, LTC – What’s Hot?
• This article takes a closer look at Ethereum, Ripple, Cardano, Tron, and Litecoin.
• Ethereum’s volatility increased this past week but failed to break above the key resistance at $1,820.
• XRP found strong resistance at 47 cents and was unable to continue higher.
Crypto Price Analysis May-26
This week we take a closer look at Ethereum (ETH), Ripple (XRP), Cardano (ADA), Tron (TRX) and Litecoin (LTC).
Ethereum’s volatility increased this past week but failed to break above the key resistance at $1,820. For this reason, the price is at a similar point to last week. This consolidation under the key resistance is unlikely to last, and bulls appear eager to break away. On Tuesday, buyers briefly took the price over the key level, however sellers were quick to reverse the price action back under $1,820. Looking ahead, bulls could take ETH into a renewed rally next week and turn the current resistance into support. If successful, this cryptocurrency will turn bullish and rally towards $1,900 and $2,000 next.
XRP found strong resistance at 47 cents and was unable to continue higher which resulted in a pullback but still remaining at similar levels as last week. Despite this pullback buyers still remain interested in purchasing XRP with good support found at 44 cents which may allow for another breakout in days ahead particularly if market leaders such as ETH are successful in moving higher as well. Looking ahead XRP seems more likely to move higher soon with its next major resistance being 50 cents while momentum indicators remain bullish overall.
Cardano is relatively opposite when compared with XRP since it is currently found in a downtrend that has seen it fall by around 6% since last week’s analysis due to finding heavy selling pressure around 2nd major resistance of 1 USD after having previously broken through its first major hurdle of 0.90 USD earlier in May due largely in part from positive news surrounding Cardano’s upcoming Goguen upgrade leading up towards mid-June 2021 timeline for release of said upgrade that will bring smart contract capabilities onto Cardano platform effectively making it capable of offering DeFi services as well as competing with Ethereum on an even footing regarding dApps development so far mentioned upgrade has been driving ADA upwards however it appears sellers have taken over near 2nd hurdle prompting further falls before any potential continued uptrend may occur again with chart showing bearish signals indicating possibility of ADA touching 0.80 USD once more before potentially continuing upwards again albeit cautiously also given recent retracement that has taken place from all time highs observed back on 19th April 2021 being 3rd highest cryptocurrency by market capitalization ADA certainly possesses tremendous upside potential should aforementioned upgrades prove successful upon release thus giving investors ample opportunity for potential returns provided they can manage their risks accordingly or simply just hold long term bet until everything shakes out finally sentiment wise things seem mixed yet slightly bearish overall so far given recent negative developments although one must keep close eye on how things develop further down line if anything changes significantly then perhaps one may change outlook accordingly given current circumstances though trend does seem downwards currently unless something drastic changes very soon presumably upon Goguen update release itself .
Tron has been trading within a tight range between 0.076 USD – 0.085 USD over past couple weeks without much significant movement either way during said period recently however TRX did find some buying interest near lower end of range pushing prices slightly higher only for them retrace partially afterwards despite still remaining close near upper end of range overall signal remains neutral yet somewhat biased towards bears whilst momentum indicators suggest possible retest lower levels before attempting any breakouts thus caution must be exercised whilst making decisions regarding this currency looking forward there might be slight chance that TRX manages jump above 0 .085 USD level with sufficient volume however chances do not seem overly promising right now hence prudent idea would be wait observe how prices develop further down line then act accordingly depending on risk/reward ratio present situation presents .