The crypto market is not at its best performance as its market cap has slid once again below the $4 trillion level, after losing more than 3.5%. The fear and greed index is in the neutral zone, while BTC is trotting along $111K, after it crashed hard with the tariffs.
XRP buyers defend $2.7 support level
Ripple’s token XRP was trading inside a descending triangle before it broke down from the pattern and crashed to $1.95. In the descending triangle pattern, the top is slanted while the bottom is horizontal. The descending top shows that the strength of the buyers is waning, but they have enough strength to hold on to the $2.7 support level. However, as the range of price movement keeps decreasing, tension builds, and the pattern breaks down.
However, after crashing to this support level, XRP has gained momentum, and it is currently testing the 200-day moving average. If it manages to secure this support level, it will test the resistance level at $2.8
Solana needs to clear one obstacle to reach $220
Solana, aka the ‘Ethereum Killer,’ captured sixth place with a market cap $105 billion. The token is currently forming a bullish falling wedge, where SOL makes lower lows and lower highs as the price movement gets restricted to a smaller range. Since SOL has not fully formed the pattern, it will rebound off the upper and lower trendlines.
Currently, it has rebounded off the lower trendline and is heading towards $222 before it was met with resistance at $210. Given that the bulls push the token above the 200-day MA, which is also close to $210, SOL will hit $222 in no time.
Cardano crashes below bull flag
Cardano was trading inside a bullish flag, making lower lows and lower highs. However, with the latest lower low, the bears saw this as an opportunity to tank the prices below the lower trendline to $0.67. With the lower trendline acting as a resistance level, the bulls will need to redeem ADA and put it above the lower trendline for it to continue. The flag, which, when completely formed, will break out upwards.
But here’s the problem: the 50-day MA is heading towards the 200-day, and if they intersect, there will be a death cross, which could dump the prices. So it will be a tough battle between the bulls and the bears.
