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Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
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As 2024 comes to an end, the cryptocurrency market remains in a scenario of great volatility, with some coins testing their resistance and support limits.
Rakesh Upadhyaycryptocurrency analyst, shared his predictions about the behavior of some of the most popular altcoins: BNB, ETH, XRP and SUN.
According to the analyst, in the case of Binance Coin (BNB), the cryptocurrency has faced an intense battle between buyers and sellers.
Currently, the price fluctuates between 20-day exponential moving average (EMA)in the house of $692and the resistance of $722. Upadhyay notes that if the price closes below the 20-day EMA, it could indicate that sellers have gained strength, which could trigger a deeper correction.
However, if BNB breaks the resistance of $722the scenario will be more optimistic, with a possible increase towards US$761 and even $794.
For the Ethereum (ETH), he highlighted that the cryptoactive has remained in a range between $2,850 and $4,094 in recent days, with attempts at recovery.
Rakesh Upadhyay emphasized that the ETH will face strong resistance in 20-day EMAcurrently in $3,494. If the price fails to surpass this level, there is a risk of a fall to the drop zone. $3,000 to $2,850.
However, if the ETH manages to remain above the EMA, there is a good chance of a recovery, with the price reaching up to $4,094.
Meanwhile, for the XRP, he highlighted that the token is currently testing support for a symmetric trianglean important technical standard.
Second Upadhyayif the price of XRP recovers from this support and breaks the 20-day EMA (in US$2.19), it may continue its consolidation within the triangle. However, a break below the triangle could indicate a downward move, with the price potentially testing US$1.63.
Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
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Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
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Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
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Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
