The RSI, significantly above the 70 threshold, signals overbought conditions, yet it underscores the strong current buyers interest. While the MACD corroborates this sentiment, with a noticeable bullish divergence,
Ethereums stance above the 50 EMA at $1876.66 further bolsters a bullish outlook. Consequently, Ethereums trajectory remains decisively positive above $1979, with expectations to challenge higher resistances shortly.
Ripple (XRP) trajectory has taken a bearish turn, with the digital currency shedding 5.21% off its value, now trading at $0.6511. The current sentiment is bearish as XRP has dipped below the pivotal $0.67328 mark.
Technical indicators offer a mixed view; the RSI at 61 suggests a neutral to slightly bullish sentiment but must be viewed cautiously in the context of recent price declines. The MACDs negative values hint at a potential for further downside, signaling that sellers are currently in control.
XRPs break below the 38.2% Fibonacci retracement level casts a shadow on its short-term prospects, indicating that it may seek support at the 61.8% retracement. With the price hovering just below the 50 EMA of $0.6531, XRPs position is precarious, and the bearish outlook will be reinforced unless it can reclaim the level above $0.67328.
As of now, the downward pressure seems to have the upper hand, with expectations of XRP testing further supports unless a decisive reversal occurs.
Solana (SOL/USD) rides a bullish wave in todays market, marking a notable ascent of 4.80% to a price of $45.17. On a 4-hour chart perspective, the crypto asset is pushing against the winds of resistance, having surpassed the pivot point at $42.80 and is now steering towards the $48.07 mark.
The Relative Strength Index (RSI) soars at 82, signaling an overheated market typically a precursor to a retracement or consolidation; however, it currently reflects a strong bullish grip.
The MACDs bullish crossover amplifies this sentiment, suggesting that the upward momentum has not yet exhausted. Further credence to the bullish outlook is given by SOLs position above the 50 EMA, set at $41.26, indicating that short-term sentiment is tilted towards buying.
Chart patterns reveal an upward trendline, bolstering support around the $42.50 area. With these technical affirmations, SOLs trend remains bullish above $42, setting the stage for a potential rally to test further resistances in the imminent sessions.
For a look at all of todays economic events, check out our economic calendar.
The rest is here:
Ethereum, Ripple and Solana Price Forecast: ETH Breaks $2K, Bull Run or Bubble? - FX Empire
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