It’s been revealed that an Ethereum rival will explode by more than 90%. Check out more details about this below.
Ethereum rival to explode by over 90%
An important crypto analyst maps the path forward for four crypto assets that have witnessed bullish price action in the last seven days.
In a new strategy session, pseudonymous analyst Cred said that XRP could witness bullish continuation as long as it is above the previous resistance at $0.414.
“If this breakout sticks and XRP does its sort of trend wiping candles where it just moons and sort of retraces weeks and weeks and weeks of selling in a much smaller number of weeks, if that is the case, I think the bigger magnet if you will, or the clearer level for price is about $0.50 to $0.60.”
XRP is reportedly up by 90% in the past week, is trading at $0.425 at time of writing.
Next up is smart contract protocol Cardano (ADA). Cred says the seventh largest crypto asset by market cap is “respecting technicals” and could revisit its 2023 high of $0.42, which it hit in February.
“I think as long as you’re not getting daily acceptance below sort of $0.35 and this more recent flip level [of around $0.35]… I think if this reclaims sticks, the next high timeframe trouble area is this big support resistance flip range high thing at around $0.41.That makes sense to me,” Cred noted recently.
Regarding Solana, he said the following:
“We essentially have a double bottom forming just above a high timeframe level of support [at $20]…
Sort of range low reclaim as long as you don’t get daily closes back below $20 – $21. That looks like it’s trading back within the range.”
He continued and stated this:
“When markets do that, we like to look at the mid and the other side of the range, which I think for this [Solana daily timeframe] chart would be something akin to $22 is the range midpoint, $24-ish is the range high.”