Crypto Price Analysis March-1: ETH, XRP, ADA, SOL and BNB
This week we take a closer look at Ethereum, ripple, Cardano, solana and Binance Coin.
Ethereum (ETH)
Ethereum has been affected by its rise this week after recording a 16.3% price increase. In the process, buyers managed to break the $3,340 resistance and retest it as a key support.
While the trend remains strongly bullish, momentum indicators appear to be a bit overextended, which could leave buyers exhausted if they continue at this pace. In February alone, ETH rose over 50% with minor pullbacks.
Looking ahead, the most important target for ETH appears to be $4,000, which will act as resistance.
Chart by TradingView
Ripple (XRP)
Despite this week’s volatility, XRP still managed to close in profit with an 11% price increase, and buyers successfully defended the support at 54 cents.
Bulls have a chance to push XRP higher in March after the correction that started in November ended last month. The next target and resistance is located at 69 cents.
Looking ahead, XRP has rallied and purchasing volume has returned to levels not seen since 2023. These are clear signals that buyers are in control.
Chart by TradingView
cardano (ADA)
Cardano made a splash this week with a 17.6% price increase after briefly reaching 70 cents. This performance allowed the bulls to reach a new local high.
Support lies at 60 cents and the current target for this rally is 82 cents. If buyers continue at this pace in March, there is only one week left until the next target.
Look aheadADA bulls are back in full force after the last correction ended in late February. The trend is bullish and March looks set for higher levels.
Chart by TradingView
Solana (LEFT)
Solana broke a new record this year and reached almost $138. This made it the best-performing cryptocurrency on our list this week, with an impressive 31% price increase.
SOL also broke above the $126 resistance, which has since turned into a key support. Considering the buying volume, this rally seems more likely to continue.
Looking ahead, after the recent breakout, Solana’s target rose to $163, which will act as a significant resistance.
Chart by TradingView
Binance Coin (BNB)
binance Coin reached $400 and managed to close the week with an 8% price increase. Current support is at $377 and resistance is at $437.
Even if this rally later enters into a pullback, the larger trend remains bullish. If it continues like this, we may see BNB continue to reach higher highs.
Looking ahead, this cryptocurrency is well positioned to challenge and perhaps even surpass its all-time high of $692 this year.
Chart by TradingView
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