The post Crypto Price Analysis August-09: ETH, XRP, ADA, BNB, and SOL appeared on BitcoinEthereumNews.com.

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana. Ethereum (ETH) After a difficult start on Monday, Ethereum closes the week with a 15% loss. It was a lot worse earlier in the week, but bulls managed to recover some of the losses since. The current support is found at $2,400 and the resistance at $2,800. Buyers will need to break above $2,800 if they want to reclaim control of the price action. Looking ahead, Ethereum is facing an uphill battle as it struggles to stop the downtrend momentum which was only intensified this week after relentless selling. There is hope the price may have bottomed on Monday, but it is too early to call it. Chart by TradingView Ripple (XRP) XRP is one of the few altcoins that is back to pre-crash levels thanks to the positive news that Ripple has settled with the SEC. This is why the price closed with a 5.6% profit this week. It is rare to see a coin in green on the weekly chart, considering the market had one of the worst crashes since the FTX drama. If XRP can consolidate these recent gains, it could challenge the resistance at $0.68 cents next. Looking ahead, XRP’s recent performance made it recover even faster than Solana, which may attract much-needed attention from market participants to strengthen the ongoing bullish momentum. Chart by TradingView Cardano (ADA) ADA also suffered after the crash on Monday and closed the week with a 10% loss. Still, the price managed to bounce well off the support at 31 cents, and if the relief rally continues, it may even touch the resistance at 37 cents next. Unfortunately for holders, the momentum and trend remain bearish. The price has made a lower low, which indicates…

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Filed under: News - @ August 9, 2024 6:28 pm