Analyst indicates where the prices of BNB, ETH, XRP and SOL are going
According to the analyst, in the case of Binance Coin (BNB), the cryptocurrency has faced an intense battle between buyers and sellers.
The price is currently trading between the 20-day exponential moving average (EMA) at $692 and the resistance at $722. Upadhyay notes that if the price closes below the 20-day EMA, it could indicate that sellers have gained momentum, which could trigger a deeper correction.
However, if BNB breaks the resistance at $722, the scenario will be more bullish, with a possible rise towards $761 and even $794.
For Ethereum (ETH), he highlighted that the crypto asset has remained in a range between US$2,850 and US$4,094 in recent days, with attempts to recover.
Rakesh Upadhyay emphasized that ETH will face stiff resistance at the 20-day EMA, currently at $3,494. If the price fails to break above this level, there is a risk of a drop to the $3,000–$2,850 zone.
However, if ETH manages to remain above the EMA, there is a good chance of a recovery, with the price potentially reaching as high as $4,094.
XRP e SOL
Meanwhile, for XRP, he highlighted that the token is currently testing the support of a symmetrical triangle, a key technical pattern.
According to Upadhyay, if the XRP price rebounds from this support and breaks above the 20-day EMA (at $2.19), it could continue its consolidation within the triangle. However, a break below the triangle could indicate a downward movement, with the price potentially testing $1.63.
Finally, the analyst said that Solana (SOL) is under pressure between the 20-day EMA (at $200) and the rising trend line.
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Upadhyay's analysis suggests that if the price breaks below the trendline, SOL could face a correction towards $155, with the next significant support at $133.
However, if the price recovers and surpasses the 20-day EMA, there could be a recovery up to $220.