This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Toncoin in greater detail.
Ethereum (ETH)
For the first time in over three weeks, Ethereum closes the past seven days in green with almost a 4% gain. This comes after the price bounced on the key support at $1,800 and briefly revisited $2,000.
However, at the time of this post, the price fell under $2,000 as it entered a pullback. While this is normal after its recent bounce, it is critical for buyers to push ETH back above this key level if they hope to reverse the current downtrend.
Looking ahead, Ethereum must do its best to avoid lower lows. Hopefully, bulls will manage to consolidate around current levels before attempting a breakout to recover the losses since December 2024.
Ripple (XRP)
XRP closes another week in green with a 4.5% price increase. This performance allowed the asset to reach nearly $2.6 before the current pullback. If this bullish momentum continues, then buyers could see XRP come close to the key resistance at $3.
While the recent price action looks promising, on a macro level, XRP continues to be in a consolidation period characterized by a flat trend. For the price to enter a rally, the resistance at $3 has to be broken.
Looking ahead, XRP appears to be building its confidence in breaking the key resistance. The true test will come once the price approaches $3. At that point, sellers could return.
Cardano (ADA)
ADA continues to move sideways, with prices similar to last week. A look at the weekly chart shows that the asset barely moved, with volatility under 2%. This compression could eventually lead to a major breakout.
The momentum indicators and volume remain somewhat bearish, but as long as the key support at $0.64 holds, buyers have a good shot at regaining control and pushing ADA back into an uptrend. The resistance is at $0.9.
Looking ahead, Cardano is at a crossroads. The lack of volatility indicates indecision among market participants, but this is unlikely to last, and the price could soon pick a direction.
Binance Coin (BNB)
Binance Coin is one of the top performers this week, with a 9% price increase. This is impressive and allowed the asset to move above $600, which is currently acting as key support.
If the rally continues, BNB will face resistance at $650 and $700. These levels have attracted sellers in the past, and this could be repeated unless buyers are able to overcome any selling pressure.
Looking ahead, BNB is well-positioned to make higher highs in the days to come. Watch the key resistance levels for signs of weakness. If sellers return, this cryptocurrency could enter a pullback.
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Toncoin (TON)
Toncoin surprised the market with an impressive 32% surge this week after its price found good support at $2.5. Buyers came in force there, and they managed to erase the losses from early March.
However, the asset arrived at the $2.75 resistance, where sellers started to show up and managed to stop the current rally, at least for now. If TON hopes to continue its ascent, it will have to break above this level soon. Otherwise, bears could push it into a longer pullback.
Looking ahead, Toncoin has a good opportunity to invalidate the downtrend that started in late 2024. This can be achieved if the price turns the resistance at $2.75 into a support in the future.
The post Crypto Price Analysis March-21: ETH, XRP, ADA, BNB, and TON appeared first on CryptoPotato.