Crypto Price Analysis Feb-9: ETH, XRP, ADA, SOL, and BNB


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

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Ethereum (ETH)

Ethereum ended the week on a high note with a 9% price increase, making it one of the best performers on our list. In the process, ETH broke the resistance at $2,441 and turned it into support.

The current target of this rally is $2,506, which is the next key level on the chart. If the second-largest cryptocurrency breaks that level as well, then it has a clear path towards $2,700, which is the current high of this year.

Looking ahead, ETH turned bullish, and buyers are in control of the price action. This makes higher levels likely in the near future.

ETHUSD_2024-02-09_18-06-51
Chart by TradingView

Ripple (XRP)

XRP appears to have bottomed, and the price is recovering after closing the week with a 3.5% gain. However, to confirm this reversal, the resistance at $0.54 has to be taken down.

Buyers have good reasons to be optimistic, considering the daily MACD did a bullish cross at the start of February, and now it is picking up speed based on the histogram. This is a welcomed development.

Looking ahead, if XRP can turn the $0.54 resistance into support, then it can aim to move higher toward the key target at $0.68.

XRPUSDT_2024-02-09_18-07-39
Chart by TradingView

Cardano (ADA)

After ADA found good support at $0.46, the price trajectory turned bullish and managed to close the week with a 5% gain. This is promising and may lead to continuation in the next few days.

The current resistance remains at $0.60, and ADA needs a 10% pump to reach it. This appears likely if the overall market maintains its existing momentum.

Looking ahead, Cardano turned bullish and has a good shot at finally breaking the key resistance. If successful, then it can aim to set a new high this year.

ADAUSDT_2024-02-09_18-07-15
Chart by TradingView

Solana (SOL)

Solana is back at the $104 resistance and is trying to break it at the time of this post. The last attempt in late January was rejected. Either way, SOL closes the week in green with a 6% gain.

Momentum favors buyers right now, and they could be successful. If SOL is above $104 tomorrow, then this key level could be confirmed as support, which will allow the price to move higher.

Looking ahead, if Solana turns $104 into support, then the next key target is found at $126.

SOLUSDT_2024-02-09_18-08-29
Chart by TradingView

Binance Coin (BNB)

After some hesitation, Binance Coin finally returned on an uptrend and managed to close the week with a 7% price increase.

The next targets are found at $330 and $360, with the latter being the most significant. BNB found good support at $300, and buyers have dominated ever since.

Looking ahead, the momentum indicators such as the MACD and RSI turned bullish, and this cryptocurrency has a good shot at rallying towards $360 in the future.

BNBUSDT_2024-02-09_18-08-44
Chart by TradingView

The post Crypto Price Analysis Feb-9: ETH, XRP, ADA, SOL, and BNB appeared first on CryptoPotato.



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