Ethereum, Ripple, Cardano, Binance Coin, and Solana Weekly Analysis

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana.

Major cryptocurrencies had a difficult week as the market crashed again, but some coins like Solana managed to recover quickly while others like Ethereum continued to struggle.

After a rough start on Monday, Ethereum closes the week with a 15% loss. It was a lot worse earlier in the week, but bulls managed to recover some of the losses since.

The current support is found at $2,400 and the resistance at $2,800. Buyers will need to break above $2,800 if they want to reclaim control of the price action.

Looking ahead, Ethereum is facing an uphill battle as it struggles to stop the downtrend momentum which was only intensified this week after relentless selling. There is hope the price may have bottomed on Monday, but it is too early to call it.

Solana had a spectacular week, closing with only a 1.7% loss. This is impressive considering that SOL’s price was close to $110 on Monday and today it’s just under $160.

Nevertheless, buyers are facing the resistance at $163 which has stopped this relief rally. If buyers don’t manage to break this level soon, then Solana could fall back again.

Either way, the price action from Solana was very strong this week and managed to recover at lightning speed. If it can break above $163, then the next key target is found at $200.

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