• ADA price started a downward move below the $0.3500 support level.
• The price is trading below $0.3550 and the 100-hourly simple moving average.
• There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA/USD pair (data source from Kraken).
• The pair could attempt a recovery wave if it clears the $0.3585 resistance zone.

Cardano Price Consolidates Losses

After testing the $0.3685 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, like Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels.

There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA/USD pair. The price even declined below $0.3440 before the bulls appeared. A low was formed at $0.3420 and the price is now correcting losses. There was a minor move above the $0.3480 level.

The price cleared the 23.6% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. Cardano price is now trading below $0.3550 and the 100-hourly simple moving average.

On the upside, the price might face resistance near the $0.3550 zone or the 50% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. The first resistance is near $0.3585. The next key resistance might be $0.3685.

If there is a close above the $0.3685 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3780 region. Any more gains might call for a move toward $0.3950.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3480 level.

The next major support is near the $0.3420 level. A downside break below the $0.3420 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge.

Technical Indicators

Hourly MACD �The MACD for ADA/USD is losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) �The RSI for ADA/USD is now below the 50 level.

Major Support Levels �$0.3450 and $0.3420.

Major Resistance Levels �$0.3550 and $0.3685.

• XRP price is correcting losses from the $0.5120 zone.
• The price is now trading below $0.5400 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could gain bullish momentum if it clears the $0.5350 resistance zone.

XRP Price Starts Fresh Increase

XRP price failed to start a fresh increase and extended losses below $0.5320, like Bitcoin and Ethereum. There was a move below the $0.530 and $0.5250 levels.

The price even dipped below $0.5200 and tested $0.5120. A low was at $0.5117 and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low.

There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP/USD pair. The price is now trading below $0.5400 and the 100-hourly Simple Moving Average.

On the upside, the price might face resistance near the $0.5350 level or the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low. The first major resistance is near the $0.5400 level.

The next key resistance could be $0.5420. A clear move above the $0.5420 resistance might send the price toward the $0.5485 resistance. Any more gains might send the price toward the $0.5550 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800.

Another Decline?

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5230 level. The next major support is near the $0.5200 level.

If there is a downside break and a close below the $0.5200 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 zone.

Technical Indicators

Hourly MACD �The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) �The RSI for XRP/USD is now above the 50 level.

Major Support Levels �$0.5230 and $0.5200.

Major Resistance Levels �$0.5350 and $0.5420.

• Ethereum started a downside correction below the $2,550 support.
• The price is trading below $2,550 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it clears the $2,550 and $2,600 resistance levels.

Ethereum Price Starts Recovery

Ethereum price extended its decline below the $2,600 level like Bitcoin. ETH traded below the $2,550 and $2,500 support levels to enter a short-term bearish zone.

The price traded as low as $2,445 and is currently correcting losses. There was a minor increase above the $2,500 level. The price traded above the 23.6% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.

Ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level. There is also a key bearish trend line forming with resistance at $2,560 on the hourly chart of ETH/USD.

The first major resistance is near the $2,600 level. It is close to the 50% Fib retracement level of the downward move from the $2,758 swing high to the $2,445 low.

A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,700 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,750.

Another Decline In ETH?

If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.

A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,450 support level in the near term. The next key support sits at $2,420.

Technical Indicators

Hourly MACD �The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now near the 50 zone.

Major Support Level �$2,450

Major Resistance Level �$2,550

• Bitcoin extended losses and tested the $65,200 zone.
• The price is trading below $67,500 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $66,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could gain bullish momentum if it clears the $67,500 resistance zone.

Bitcoin Price Starts Fresh Increase

Bitcoin price extended its downside correction below the $66,500 level. There was a move below the $66,000 and $65,500 levels. The price even tested the $65,200 support zone.

A low was formed at $65,199 and the price is again rising. There was a clear move above the $66,500 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $69,425 swing high to the $65,199 low. Besides, there was a break above a key bearish trend line with resistance at $66,800 on the hourly chart of the BTC/USD pair.

Bitcoin price is now trading below $67,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $67,300 level or the 50% Fib retracement level of the downward move from the $69,425 swing high to the $65,199 low.

The first key resistance is near the $67,500 level. A clear move above the $67,500 resistance might send the price higher. The next key resistance could be $68,000.

A close above the $68,000 resistance might initiate more gains. In the stated case, the price could rise and test the $69,200 resistance level. Any more gains might send the price toward the $70,000 resistance level.

Another Decline In BTC?

If Bitcoin fails to rise above the $67,500 resistance zone, it could start another decline. Immediate support on the downside is near the $66,500 level.

The first major support is near the $66,200 level. The next support is now near the $66,000 zone. Any more losses might send the price toward the $65,200 support in the near term.

Technical indicators:

Hourly MACD �The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) �The RSI for BTC/USD is now above the 50 level.

Major Support Levels �$66,500, followed by $66,200.

Major Resistance Levels �$67,500, and $68,000.

Particularly, this key resistance level has emerged as a significant barrier, signaling a potential shift in market dynamics. With pessimistic pressure mounting, ApeCoin’s future direction hangs in the balance, as traders look for signs of whether the bulls can stage a recovery or if the bears will drive prices lower in the coming days.

This article analyzes ApeCoin’s struggle against strong resistance at the $1.755 level, focusing on how the bears have gained control of the market. It explores the factors driving the current bearish strength, examines key support and resistance levels, and assesses the likelihood of further downside pressure or a potential bullish recovery. 

Bearish Momentum Builds As ApeCoin Hits Key Resistance

Recently, APE’s price has turned bearish on the 4-hour chart, pulling back towards the $1 mark and the 100-day Simple Moving Average (SMA) after encountering strong resistance at $1.755. This retracement marks a notable shift in momentum, as the bulls failed to maintain their upward push, allowing bears to take control.

An analysis of the 4-hour Relative Strength Index (RSI) reveals a significant decline, with the signal line dropping to 49% from its previous peak of 92%. Typically, a fall below the critical 50% threshold suggests that bears are gaining control of the market, possibly leading to more downside if the RSI continues to trend lower.

Also, the daily chart for ApeCoin shows increasing negative sentiment, with negative candlesticks and a decline toward the 100-day SMA, reflecting rising selling pressure as ApeCoin struggles to hold higher levels. If bulls don’t defend the current support, additional declines are possible, making the 100-day SMA a critical level to watch for either a potential reversal or continued downward movement.

Finally, on the 1-day chart, the RSI has fallen to 65%, down from its previous position in the overbought zone suggesting that buying pressure has eased and that the market could be entering a period of consolidation or possible pullback.

Support Levels To Watch Amidst Bears�Control

As bearish momentum strengthens, key support levels become crucial in determining ApeCoin’s next move. The first level to watch is the $1 mark, a psychological and technical support that could help prevent further declines for ApeCoin.

Meanwhile, if bears push the price below this, the next significant support lies around $0.66. A break below these levels could lay the groundwork for additional losses, as sellers would likely increase pressure.

However, if APE’s bulls manage to stage a recovery at the $1 support level, the price of ApeCoin could begin to rebound toward the $1.755 resistance. A successful breakout above this resistance could pave the way for more upward movement, potentially targeting the $2.1 level and beyond, signaling a stronger bullish resurgence.

• SOL price is correcting gains from the $172 resistance zone against the US Dollar.
• The price is now trading above $162 and the 100-hourly simple moving average.
• There was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The pair could revisit the $162 support zone before the bulls take a stand.

Solana Price Eyes Retest of Support

Solana price climbed above the $150 and $155 levels. SOL gained pace after there was a close above the $162 resistance level. However, the bears were active near the $172 zone.

The price started a downside correction from the $171 high like Bitcoin and Ethereum. There was a move below the $168 level. The price declined below the 50% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high.

Besides, there was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair. Solana is now trading above $162 and the 100-hourly simple moving average.

On the upside, the price is facing resistance near the $168 level. The next major resistance is near the $170 level. The main resistance could be $172. A successful close above the $170 and $172 resistance levels could set the pace for another steady increase. The next key resistance is $180. Any more gains might send the price toward the $188 level.

More Losses in SOL?

If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 level or the 76.4% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high.

The first major support is near the $162 level. A break below the $162 level might send the price toward the $155 zone. If there is a close below the $155 support, the price could decline toward the $150 support in the near term.

Technical Indicators

Hourly MACD �The MACD for SOL/USD is gaining pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) �The RSI for SOL/USD is below the 50 level.

Major Support Levels �$164 and $162.

Major Resistance Levels �$168 and $172.

• XRP price is correcting gains below the $0.5500 zone.
• The price is now trading below $0.5450 and the 100-hourly Simple Moving Average.
• There is a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could gain bearish momentum if it declines below the $0.5200 support zone.

XRP Price Dips Further

XRP price struggled to extend gains above the $0.5600 level and started a downside correction, like Bitcoin and Ethereum. There was a move below the $0.5550 and $0.5500 levels.

The price even dipped below $0.5320 and tested $0.5290. A low was at $0.5292 and the price is now consolidating losses and trading below the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low.

The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5365 level. There is also a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $0.5440 level. It is close to the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low.

The next key resistance could be $0.5520. A clear move above the $0.5520 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5600 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800.

More Losses?

If XRP fails to clear the $0.5365 resistance zone, it could start another decline. Initial support on the downside is near the $0.5280 level. The next major support is near the $0.5220 level.

If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone.

Technical Indicators

Hourly MACD �The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) �The RSI for XRP/USD is now below the 50 level.

Major Support Levels �$0.5280 and $0.5220.

Major Resistance Levels �$0.5365 and $0.5520.

• Ethereum started a downside correction below the $2,650 support.
• The price is trading below $2,650 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels.

Ethereum Price Starts Consolidation

Ethereum price started a downside correction from the $2,750 resistance like Bitcoin. ETH traded below the $2,700 and $2,650 support levels to enter a short-term bearish zone.

The price traded as low as $2,605 and is currently consolidating losses. There was a minor increase above the $2,620 level. The price traded close to the 23.6% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low.

Besides, there was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD. However, the price is struggling to gain bullish momentum.

Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,650 level. The first major resistance is near the $2,700 level. It is close to the 50% Fib retracement level of the downward move from the $2,757 swing high to the $2,605 low.

A clear move above the $2,700 resistance might send the price toward the $2,750 resistance. An upside break above the $2,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,800 resistance zone in the near term. The next hurdle sits near the $2,850 level or $2,880.

More Downsides In ETH?

If Ethereum fails to clear the $2,650 resistance, it could start another decline. Initial support on the downside is near the $2,600 level. The first major support sits near the $2,550 zone.

A clear move below the $2,550 support might push the price toward $2,500. Any more losses might send the price toward the $2,440 support level in the near term. The next key support sits at $2,420.

Technical Indicators

Hourly MACD �The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level �$2,600

Major Resistance Level �$2,650

With positive momentum building, Cardano is showing signs of further upside movement, positioning it for continued gains toward the $0.4233 mark. The question now is whether bulls can sustain this surge and push ADA toward new highs. 

As the uptick progresses, this article aims to analyze ADA’s recent price movement, with a focus on how the bulls reversed the pullback and sparked a new rally. It will examine the current bullish path, evaluate key support and resistance levels, and explore the potential for sustained upward movement in the near term.

Bullish Momentum Returns: How Cardano Reversed The Pullback

On the 4-hour chart, Cardano has turned bullish, currently holding its position above the 100-day Simple Moving Average (SMA) printing multiple green candlesticks. As long as the price remains above this level, the bulls will likely maintain control, with the possibility of further gains if the upward trend persists.

An analysis of the 4-hour Relative Strength Index (RSI) reveals a notable surge, rising to 63% after previously dipping to 53%. This increase reflects growing bullish momentum, suggesting that buying pressure is gaining strength in the market. While the current level is still below overbought territory, the upward shift in RSI signals increased demand and could pave the way for additional upside.

Also, the daily chart shows that Cardano is actively trying to break above the 100-day SMA, a key resistance level. Successfully surpassing this SMA could indicate a stronger optimistic trend and boost investor confidence, attracting more buyers. If ADA clears this resistance, it may lead to a shift in market sentiment and more upward movement.

The RSI on the daily chart is currently at 53%, indicating a bullish trend for ADA, as it is above the critical 50% threshold. Typically, this suggests that buying pressure is outpacing selling pressure, reflecting strong momentum and growing trader optimism about ADA’s price potential. 

Support And Resistance Levels To Watch In The Coming Days

On the upside, the $0.4233 resistance level is critical, as a successful breakout above this point could signal a stronger uptrend and draw in more buying interest. Should ADA surpass $0.4233, the next significant resistance to monitor will be at $0.5229. Clearing this level further bolsters bullish pressure, potentially leading to even higher price targets as market sentiment shifts favorably.

Meanwhile, on the downside, the first support level to monitor if the bulls are unable to maintain their momentum is $0.3389. A break below this level could result in additional losses, possibly driving the price toward the next support level at $0.2388, which may further extend to lower support zones if selling pressure continues.

• Bitcoin struggled to test the $70,000 resistance zone and started a downside correction.
• The price is trading below $67,500 and the 100 hourly Simple moving average.
• There is a short-term contracting triangle forming with support at $67,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a fresh increase unless there is a close below the $66,500 zone.

Bitcoin Price Starts Consolidation Phase

Bitcoin price struggled to continue higher toward the $70,000 level and started a downside correction. There was a move below the $68,500 and $67,500 levels.

The price even tested the $66,500 support zone. A low was formed at $66,564 and the price is now consolidating losses. There was a minor increase above the $66,850 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $69,427 swing high to the $66,564 low.

Bitcoin price is now trading below $67,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $67,100 level. There is also a short-term contracting triangle forming with support at $67,100 on the hourly chart of the BTC/USD pair.

The first key resistance is near the $68,000 level or the 50% Fib retracement level of the downward move from the $69,427 swing high to the $66,564 low. A clear move above the $68,000 resistance might send the price higher. The next key resistance could be $68,500.

A close above the $68,500 resistance might initiate more gains. In the stated case, the price could rise and test the $69,200 resistance level. Any more gains might send the price toward the $70,000 resistance level.

Another Decline In BTC?

If Bitcoin fails to rise above the $67,100 resistance zone, it could start another decline. Immediate support on the downside is near the $66,800 level.

The first major support is near the $66,500 level. The next support is now near the $66,200 zone. Any more losses might send the price toward the $65,500 support in the near term.

Technical indicators:

Hourly MACD �The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) �The RSI for BTC/USD is now below the 50 level.

Major Support Levels �$66,800, followed by $66,500.

Major Resistance Levels �$67,100, and $68,000.