XRP, ADA, and SOL Show Bullish Patterns Indicating Potential Price Recovery
Recent data indicates potential short-term recoveries for XRP, Cardano (ADA), and Solana (SOL) tokens despite broader market volatility.
- XRP shows bullish momentum with a breakout above $2.00, recovering to $2.068 after an 11% surge.
- ADA formed a double bottom at $0.55, rebounding 18.6% to $0.637, with support at 60 cents.
- SOL rallied 3% to nearly $134, part of a 30% climb driven by ETF approval optimism, with key resistance at $125.50.
Analyst Alex Kuptsikevich highlights the importance of a bitcoin trend reversal, particularly a breakthrough of the $85,000 level, as a confirmation for long-term investments.
XRP Technical Analysis
- Support: $2.00-$2.065, with a 50-hour moving average at $2.03.
- Resistance: $2.10, with further potential at $2.15-$2.20.
- Indicators show increased volume during breakouts and positive RSI near 60.
- Short-Term Target: Watch for potential rise to $2.10-$2.15; breaking below risks $1.99.
Solana Technical Analysis
- Support: $120-$124, with deeper support at $115.
- Resistance: $130-$135, targeting $145 on a breakout.
- Indicators indicate increasing volume and bullish MACD divergence.
- Short-Term Target: Clearing $135 could push SOL to $140; dropping below $120 risks $105.
Cardano Technical Analysis
- Support: $0.632-$0.636, backed by the 50-minute moving average.
- Resistance: $0.641, with Fibonacci levels at $0.645-$0.658.
- Indicators suggest accumulation with healthy volume and building momentum.
- Short-Term Target: A break below 63 cents risks a drop to 55-59 cents; double bottom supports upside potential.