Latest Situation in Cryptocurrency Market: BTC, XRP and ADA Analysis

The cryptocurrency market has started to gather strength again in the last 48 hours, and the leading cryptocurrency has seen $ 44,000, although not for a long time. Although the altcoins experienced a positive movement after the Bitcoin price saw $ 44,000, BTC was pulled back to the $ 43,000 band as of now. However, the graphics are not entirely negative.

Latest Situation in Bitcoin, XRP and Cardano

bitcoin While it was in danger of falling below $40,000 last week, it recovered again and climbed above the EMA55 on the three-hour chart. Although BTC’s rise above $44,300 caused a positive movement in investors, the selling pressure seen especially in the region between $ 44,000 and $ 46,000 changed the situation.

of bitcoin It can be said that it will continue to be volatile until it rises above $46,000 on the daily chart, and an example of this was actually seen on September 27. Although the day is still not over, it seems difficult for BTC to rise above $ 44,000. The critical point here will be the support of $ 42,000.

Bitcoin 4-Hour Chart

on the other hand XRP On the other hand, it turned from the $0.95 resistance once again, showing that it does not have enough buying pressure to break this resistance. Although XRP is heading towards the EMA55 level above the three-hour moving average, XRP can be expected to hover between $0.90 and $0.95 for a while.

XRP, which has lost 10% in the last 7 days, is definitely at the point of danger right now. Although XRP is not the crypto currency with the most losses in the top 10, and some altcoins such as BNB have fallen by 16% in 7 days, the failure of XRP to test and break the same resistance 3 times in a row indicates danger. In the continuation of this, $ 0.80 for XRP price and $ 0.66 support can be seen in its continuation. It is seen that the 24-hour volume of XRP is also at the level of 3 billion dollars, and the halving of its commercial volume, which has seen 6 billion dollars in the past weeks, indicates that the buying pressure has also decreased.

XRP 4-Hour Chart

Cardano if Cardano Summit Despite the many developments it announced in 2021, it failed to catch any movement. Cardano, which gained smart contract support with the Alonzo hard fork, unfortunately faced a sharp decrease from $ 3 after this. Investors’ goal of $5 or even $10 came to an end with the return of ADA from the $3 resistance.

As of the writing of this article, Cardano is trading at $2.18 and has lost 4% in 7 days. A large part of Cardano is considered as staking and this reduces the selling pressure. Still, every second the ADA price is below $2.25 is dangerous.

ADA is currently pulling back towards the $1.90 support, and while the selling pressure is scanty, the almost absence of buying pressure could set the stage for testing this support. ADA investors are expecting a sideways movement in the coming days and $1.90 is seen as a crucial support. If this level is lost, the way to stop can be preferred.

Also, as a resistance point, the $2.40 levels above $2.25 are intact.

Cardano 4-Hour Chart
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