Crypto Price Analysis February 9: ETH, XRP, ADA, SOL and BNB
This week we take a closer look at Ethereum, ripple, Cardano, solana and Binance Coin.
Ethereum (ETH)
Ethereum finished the week on a high note with a 9% price increase, making it one of the best performers on our list. In this process, ETH broke the resistance at $2,441 and turned it into support.
The current target of this rally is $2,506, the next key level on the chart. If the second-largest cryptocurrency also breaks this level, it will have a clear path towards this year’s current high of $2,700.
Looking ahead, ETH is on the rise and buyers are in control of the price movement. This indicates that higher levels are likely in the near future.
Chart by TradingView
Ripple (XRP)
XRP appears to have bottomed and the price is recovering after closing the week with a 3.5% gain. However, the $0.54 resistance needs to be broken for this reversal to be confirmed.
Considering that the daily MACD was trending upward at the beginning of February and is now gaining momentum relative to the histogram, buyers have good reason to be optimistic. This is a pleasing development.
Looking ahead, if XRP can turn resistance at $0.54 into support, then it could aim to rise towards the key target of $0.68.
Chart by TradingView
cardano (ADA)
After ADA found a good support at $0.46, the price trend turned upward and managed to close the week with a 5% gain. This is promising and could lead to continuation over the next few days.
Current resistance remains at $0.60 and ADA needs a 10% increase to reach it. This seems likely if the overall market maintains its current momentum.
Look aheadCardano is on the rise and has a good chance to finally break key resistance. If successful, he could aim to reach a new record this year.
Chart by TradingView
Solana (LEFT)
Solana is back to the $104 resistance and is trying to break this resistance at the time of writing. The last attempt at the end of January was rejected. Either way, SOL ended the week in the green with a 6% gain.
Momentum is currently in the buyers’ favor and they may do well. If SOL breaks above $104 tomorrow, this key level could be confirmed as support, which could allow the price to move higher.
Looking ahead, if Solana turns $104 into support, the next key target will be found at $126.
Chart by TradingView
Binance Coin (BNB)
After some hesitation, binance Coin finally returned to the uptrend and managed to close the week with a 7% price increase.
The next targets are located at $330 and $360; The second is the most important. BNB found a good support at $300 and buyers have dominated since then.
Looking ahead, momentum indicators such as MACD and RSI are bullish and this cryptocurrency has a chance to rise to $360 in the future.
Chart by TradingView
The post February 9 Crypto Price Analysis: ETH, XRP, ADA, SOL and BNB appeared first on CryptoPotato.
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