The broader markets are slightly recovering after experiencing a major pullback for a couple of days. While Bitcoin prices, now have regained their values above $19,000, Ethereum prices also surged beyond $1600. Currently, major altcoins are also gearing up to rise above the bearish captivity, Among them are Ripple (XRP), Solana(SOL) & Cardano (ADA) which may explode in the coming days.
The XRP price underwent an extreme bearish trend in the past month where-in it initially broke down from a symmetric triangle. Later pulled a massive leg down and formed a bearish flag. After a brief consolidation, the price dropped and currently hovering around the pivotal zones. The price is unable to rise beyond $0.34 but not decline below $0.31 either. Hence, a significant upswing may be imminent.
With a rebound, the asset may regain the levels above $0.35 initially and later head towards $0.38, to clear these levels and test $0.4 at the earliest. Once these levels are achieved, the XRP price may be slightly distinct from the bearish influence but only after a jump beyond $0.5, the asset could attract the bulls.
Solana’s price also has picked up notably after the recent price crash that dropped the value by more than 10%. The asset has recovered to a large extent but facing minor hindrances as it approaches the immediate highs of around $33.89. However, the price which appears to be consolidating currently may break above the resistance very soon.
After a breakout, the initial target would be to secure levels above $36 initially and try to reach levels close to $40. No doubt the SOL price may face rejection at these levels, but it may somehow sustain above $37.75 and regain the value above $40.
Cardano has been the talk of the town ever since the date for the Ethereum Merge has been announced. Nevertheless, with the release of the date for the Vasil Hard Fork, ADA price also gained significant momentum. The price which is currently trading at $0.473 may eventually rise beyond $0.6 ahead of the Fork.
The ADA price broke down from the ascending triangle but dropped hard and quickly began to trade again within another ascending triangle. Presently, the price is trading around $0.47 after flipping from the lows at $0.455. As the technicals suggest an upward trajectory, the asset may be primed to regain the levels above $0.52 and later head towards $0.6, slicing through $0.59.