Crypto Price Analysis Mar-1: ETH, XRP, ADA, SOL, and BNB
This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin.
Ethereum (ETH)
Ethereum impressed with its rally this week after booking a 16.3% price increase. In the process, buyers managed to break the resistance at $3,340 and re-test it as a key support.
While the trend remains firmly bullish, the momentum indicators appear a bit over-extended, which could make buyers exhausted if they continue at this rate. Only in February ETH increased by over 50% with little pullbacks.
Looking ahead, the most important target for ETH is found at $4,000, which will also act as a resistance.
Ripple (XRP)
Despite the volatility this week, XRP still managed to close in profit with an 11% price increase, and buyers successfully defended the support at 54 cents.
Bulls have a good shot at taking XRP higher in March after the correction that started back in November ended last month. The next target and resistance is found at 69 cents.
Looking ahead, XRP has turned bullish, and the buying volume has returned to levels not seen since 2023. These are clear signals that the buyers are in charge.
Cardano (ADA)
Cardano impressed with a 17.6% price increase this week after briefly reaching 70 cents. This performance allowed bulls to make a new local high.
The support is found at 60 cents, and the current target for this rally is 82 cents. If buyers continue at this rate in March, then the next target is only a week away.
Looking ahead, ADA bulls have returned in full force after the most recent correction ended in late February. The trend is bullish, and March looks primed for higher levels.
Solana (SOL)
Solana made a new high this year and nearly reached $138, making it the best-performing cryptocurrency on our list this week, with an impressive 31% price increase.
SOL also broke above the $126 resistance, which has since turned into a key support. Considering the buy volume, this rally seems more likely to continue.
Looking ahead, after the latest breakout, Solana’s target has moved to $163, which will also act as a key resistance.
Binance Coin (BNB)
Binance Coin reached $400 and managed to close the week with an 8% price increase. The current support is at $377, and resistance is at $437.
Even if this rally enters a pullback later, the larger trend remains bullish. If it continues, it could see BNB continue to make higher highs.
Looking ahead, this cryptocurrency is well-positioned to challenge the all-time high at $692 this year and maybe even exceed it.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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