The past week has truly been quite interesting for crypto investors. As some cryptocurrencies have witnessed a surge in prices, others have struggled to gain momentum. Let’s dive into the price movements of popular coins like Ethereum, Bitcoin, Ripple, Cardano, and Polygon.
During the past week, Ethereum price (ETH) recorded an impressive 7.4% increase in price. However, it failed to break through the crucial resistance level of $1,660. Nonetheless, the current price trend indicates an increasing interest from buyers as the resistance level is repeatedly tested. For those looking to buy Ethereum, the current trend suggests that it may be a good time to invest. With consistent pressure from buyers, there is a likelihood of ETH breaking through this critical resistance level and surging higher.
Bitcoin underwent a significant downtrend, falling to $15K before experiencing multiple capitulation events. However, the market has recently seen an uptick, surpassing several crucial resistance levels. Currently, Bitcoin price is at a critical resistance level of $25K. If Bitcoin surpasses this level, it could witness a strong surge toward the next resistance level at $30K. So now may be a good time to buy Bitcoin, don’t you think?
Cardano (ADA) registered an impressive 8.5% increase in price, signaling a bullish trend with the cryptocurrency painting a higher high. For those looking to buy Bitcoin, Cardano may be worth considering. With significant support at 38 and 36 cents, ADA is expected to pressure the current resistance level of 42 cents, where bears currently hold control.
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Ripple (XRP) attempted to rally but was halted by the bearish trend at the resistance level of 40 cents, leading to a mere 1.4% increase in price during the past seven days. The trend remains bearish for XRP, and for buyers to escape it, they need to push the price toward a higher high. This, however, seems unlikely as bears showed significant strength at the key resistance level.
Polygon (MATIC) witnessed a significant increase of 16.5% in the past week and is expected to break through the key resistance level of $1.5. However, buyers must exercise caution as the recent price movement has created a bearish divergence on the RSI and MACD indicators. The cryptocurrency might be completing its fifth Elliot wave impulse towards the key resistance level. A corrective phase may follow to control the current rally.
The world of cryptocurrencies is constantly evolving and can be unpredictable. However, with the right research and understanding of the market, there are ample investment opportunities. If you’re interested in buying cryptocurrencies like Bitcoin or Ethereum, B2Cash office in Prague is a trustworthy option. They offer a range of cryptocurrencies and provide a secure and straightforward buying process. So now, nothing is stopping you from becoming a crypto-millionaire!
