This Week’s Crypto Update

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

Ethereum (ETH)

Ethereum saw a 4% increase over the past seven days after bouncing off key support at $1,800, briefly touching $2,000. However, it has since fallen below $2,000 during a pullback. Buyers must push ETH back above this level to reverse the current downtrend, avoiding lower lows. Consolidation above current levels is crucial before attempting a breakout to reclaim losses since December 2024.

Ripple (XRP)

Ripple closed the week with a 4.5% gain, reaching nearly $2.6 before a pullback. If bullish momentum continues, XRP could test the $3 resistance. Despite the promising price action, XRP remains in a consolidation phase. A breakout above $3 is needed for a rally, with potential selling pressure looming.

Cardano (ADA)

Cardano moved sideways, maintaining prices similar to last week, with volatility under 2%. This lack of movement might lead to a breakout. Although momentum indicators are bearish, if support at $0.64 holds, buyers have a chance to push ADA back towards resistance at $0.9. Cardano’s current indecision may not last long.

Binance Coin (BNB)

Binance Coin performed well this week, increasing by 9% and breaking above $600, which now serves as key support. Continuing upward, BNB may encounter resistance at $650 and $700, levels that have attracted sellers previously. Monitoring these resistances will be essential as selling pressure may trigger a pullback.

Toncoin (TON)

Toncoin surprised the market with an impressive 32% surge, recovering losses after finding support at $2.5. It faces resistance at $2.75, where sellers have begun to emerge. For continued growth, Toncoin will need to break this resistance level to avoid a prolonged decline. A successful transition from resistance to support could signal a recovery from the downtrend that began in late 2024.