BTC, ETH, XRP, ADA and SOL Price Analysis for Feb 13
The last day of the week turned out to be bullish for the cryptocurrency market as most of the coins are in the green zone.
Despite sharp price swings, Bitcoin (BTC) price has risen 2.09% in the past week.
Bitcoin (BTC) is in the middle of a wide channel after a false break from the resistance level at $45,478. Sell trade volume is falling, meaning bears are nearly out of power.
If buyers take advantage of this opportunity and bring the rate down to $44,000, growth could continue to $46,000 next week.
Bitcoin is trading at $42,465 at the time of writing.
Ethereum (ETH) was unable to keep up with BTC and the price of the main altcoin has fallen 2% in the past seven days.
After failing to break above the vital mark of $3,000, Ethereum (ETH) price has returned to the blue support level of $2,815 on the daily chart.
If bear pressure continues and the price moves below it, the decline could soon lead ETH into the $2,600-$2,700 zone.
Ethereum is trading at $2,947 at the time of printing.
XRP is today’s biggest winner as its share price is up 24.74% in the past week.
Despite strong growth, XRP continues to show strength against declining trading volume. Right now, the price is close to the $0.9150 resistance level, whose breach could be a prerequisite for its mid-term gain towards $1.
XRP is trading at $0.8323 at the time of writing.
Cardano’s (ADA) share price has remained virtually unchanged since yesterday, growing just 0.48%.
From a technical standpoint, Cardano (ADA) is neither bullish nor bearish as the price is in the middle of the channel between the support at $0.917 and the resistance at $1.209. In this regard, continued sideways trading is the most likely scenario in the coming days.
ADA is trading at $1,066 at the time of writing.
Unlike XRP, Solana (SOL) is the biggest loser today as the price is down nearly 16% since the start of the week.
Bears remain stronger than bulls as the price failed to get into the $100 zone. Similarly, approaching the USD 87.73 support level may generate a breakout and a sharp drop to USD 80.
SOL is trading at $96.39 at the time of writing.