• ETH, XRP, ADA, SOL and LTC are currently in a bullish trend.
• Ethereum’s buying volume is decreasing since mid-March.
• Ripple has been the best performer with 19% price increase in the past week.
Crypto Price Analysis: Mar 31
This week we take a closer look at Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL) and Litecoin (LTC).
Ethereum
Ethereum has decided to range this week and booked a slight loss of 1.4%. This flat trend could not muster the energy to hold the price above $1,800, which is the current key resistance. The support is at $1,700 and bulls have done a good job defending this level to date; any pullback should find buyers here if the price falls again.
Looking ahead, ETH has lost some of its momentum; with the buying volume steadily decreasing since mid-March. If this does not reverse soon then the cryptocurrency will lack the strength to push higher at this time and may even enter into a correction.
Ripple
In contrast to Ethereum, Ripple has turned extremely bullish with a 19% price increase in the past week. Buyers do not show any sign of weakness at this time; during its rally it made a higher high which confirms its bullish trend.
To stop its ascent bears may show up at the key resistance levels of 53 cents and 58 cents while current support remains just below 50 cents.
Looking ahead XRP is well positioned to make new yearly highs and maybe even approach $1 towards the end of 2021 if buyers continue to dominate.
Cardano
< p >Cardano ’s uptrend continued as it added 8 . 3 % in value over seven days . With no major resistances ahead , ADA could reach as high as 2 . 4 USD by May . However , bearish divergence on all timeframes suggests that consolidation or even a pullback could be possible before that happens . On top of that , there seems to be strong overhead resistance around 2 USD so traders must use caution when entering longs here . The support for ADA lies around 1 . 7 USD right now but could go lower if sellers take control soon.< / p > < h2 >Solana < / h2 >
< p > Solana managed to break out from an ascending triangle pattern last week after accumulating enough energy over several weeks . Since then it surged by 21 % reaching all – time highs above 35 USD only yesterday ! At first glance , there is no significant resistance until 40 USD so further growth appears likely before another pullback takes place in order for market participants to gain confidence about future trends . Therefore , traders should wait for such opportunity instead of jumping into long positions right away because there might be more potential profits available later on if patience prevails.< / p >
< h2 >Litecoin< p > Finally , Litecoin gained 6 % during this period as buying pressure remained consistent throughout March . As such , LTC broke out from an inverse head & shoulders pattern without trouble which confirms short term bullishness despite longer term bearishness being still visible on charts right now after weekly losses suffered since late February 2021 have been observed recently.< / p >< p > Moving forward , bulls need to defend 9 USD first before they can attempt another breakout move towards 10$ region where previous local highs were created back in January 2021 ; otherwise sellers may step in again forcing prices lower than 8$ later on if current support fails once again soon .< / p >