Is Ethereum Losing Its Edge? Shocking Price Movements in Crypto This Week!

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This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.

Ethereum (ETH)

Since November 2024, altcoins like XRP, SOL, and BNB have set new highs; however, Ethereum has only seen a slight 3% price rise this week. Investors successfully protected the $3,300 support level but couldn’t propel ETH significantly higher.

In this current market cycle, the relatively poor showing of Ethereum (ETH) has sparked a flurry of questions about its performance, as its price trend seems significantly behind that of other leading cryptocurrencies. Interestingly, even Bitcoin has surpassed Ethereum in terms of growth over the past few years.

As Ethereum’s price surpasses $4,000, optimism might resurface. This level serves as a significant barrier, but if it’s broken, the ETH all-time high of $4,868 could be within reach again. For enthusiasm to return to this cryptocurrency, bulls must push the price beyond that milestone.

Ripple (XRP)

This week, XRP achieved a remarkable milestone by reaching a new high identical to its 2017 peak of $3.4. This impressive surge propelled the price, resulting in an astounding 41% increase as the week concluded.

In simpler terms, it appears that buyers have significant influence over the current market trends, and the next significant level to watch out for on the graph is approximately $3.6. As long as XRP maintains its value above $3.3, it could potentially enter a phase where the price isn’t dictated by specific levels or targets, but rather determined by market forces (price discovery).

Moving forward, XRP has now joined an elite group of cryptocurrencies that have achieved their all-time high prices in this cycle, alongside BNB and SOL, which set new records towards the end of 2024. Whether this price surge signals the start of a continuous rally or a temporary halt remains uncertain at this point.

Cardano (ADA)

Last week saw a significant boost for ADA as its value surged more than 15%. This rise follows investors effectively holding the line at the crucial support level of $0.9. To keep up this positive trend, the digital currency needs to overcome the resistance at $1.3.

Given that many leading altcoins within the top 10 are showing signs of a bullish trend, it’s possible that Cardano could experience a significant surge if it manages to break its crucial resistance level. The current market momentum seems to be on the side of buyers, but there’s a need for increased trading volume as it has been relatively stable over the past few weeks.

Moving forward, there’s a possibility that Cardano could break free from its current price range, which is roughly between $0.90 and $1.30. Once it exits this zone, the bullish trend might regain strength.

Binance Coin (BNB)

The buyers managed to hold onto their position at $691, leading BNB to finish the week positively by increasing its price by 3%. Currently, it’s trading above $700 and is just a small jump away (about 11%) from its all-time high of $794.

The trend appears to be strongly bullish, suggesting that new highs might be reached. If Binance Coin surpasses $794, it could enter a period of price exploration which may lead to increased volatility and a swift surge towards $1,000 – a significant psychological milestone in such a scenario.

Moving forward, it seems that this cryptocurrency has a strong position to lead in the upcoming weeks and maintain its impressive trajectory from 2024 through 2025. The crucial point on the graph currently is $794. Keep a close eye on it, as it will influence the direction BNB takes next.

Solana (SOL)

Last week saw Solana experiencing a significant surge, ending with a 12% increase. Over the past three weeks, its price has been fluctuating between approximately $180 and $210. Given this recent rally, there’s a strong possibility that Solana’s price could break free from this range and potentially reach $240, which currently serves as a resistance level.

Glancing at the graph provided suggests that Solana (SOL) has experienced a lower low, but if this upward momentum continues, it’s anticipated that the price will reach and surpass its current peak of $264 by hitting a higher high in the future.

Moving forward, Solana might be gearing up for another significant surge in value, potentially sparking renewed enthusiasm towards it. Given that several notable altcoins have recently set new high prices, Solana, along with coins such as BNB, may follow suit and reach new heights next.

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2025-01-17 12:13